PRISM NextGen Tech Index Leader, SoundHound AI is Trading up ~45% and Will Announce Earnings This Thursday

AI stocks are continuing to be on the upward move as shares of the Nvidia-backed AI tech company SoundHound AI (SOUN) are up ~45% today at around $5.50/share and more than triple its average trading volume. The company currently leads the PRISM Emerging NextGen Tech Index.

By leveraging advanced machine learning and natural language processing algorithms, the company develops innovative products and services that enable users to interact with devices using voice commands and to identify music, sounds, and other auditory cues accurately. Their flagship product, the SoundHound app, allows users to discover music by simply humming or singing a tune, and it also provides voice-enabled search capabilities for various tasks.

Soundhound’s voice assistant with integrated ChatGPT, will be the first to go into full production with an international automaker, available in Stellantis DS Automobiles, starting next month. This week, SOUN intends to announce its fourth quarter and full year earnings on Thursday, after the close.