SoundHound AI, Inc (NASDAQ:) shares are trading higher Thursday as AI-related stocks climb following Nvidia Corporation’s (NASDAQ:NVDA) blowout fourth-quarter earnings report.
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Nvidia recently revealed a $3.7 million investment in SoundHound, strengthening the relationship between the two companies and sending SoundHound’s stock soaring.
Shares of several AI-related stocks, including SoundHound, are moving higher after Nvidia reported non-GAAP earnings per share of $5.16 and revenue of $22.1 billion, up 22% from the third quarter and up 265% year-over-year.
“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations,” said Nvidia CEO Jensen Huang.
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