SoundHound AI (NASDAQ:SOUN) stock continued to gain ground on Friday, with shares of the AI voice technology developer climbing 34% in midday trading.
Shares of SoundHound, which went public in April, opened at $1.90, reaching a high of $2.85 in late morning. The stock recently changed hands at $2.63 at around 11:25 a.m. ET.
SoundHound shares have made considerable gains since the company announced an AI deployment deal with Airmeez. The stock has surged 70% since the deal was announced on Jan. 26 after hitting a 52-week low of $0.93 on Dec. 22.
Also stoking shares is increased investor interest in AI technology developers following Microsoft’s announcement last month that it planned to invest billions in ChatGPT developer OpenAI.
SoundHound went public in April following a merger with SPAC Archimedes Tech.