Why SoundHound AI Stock Fell 8% This Morning

Shares of SoundHound AI (NASDAQ: SOUN) cooled down on Thursday, ending a string of positive price moves. The stock surged 16.3% higher from the long weekend to Wednesday evening, but gave back as much as 8.1% of those gains today. At 2:50 p.m. ET, SoundHound AI's shares are down by 5.2%.This week's surge was based on a broader wave of interest in a certain type of artificial intelligence (AI) company. A splashy buyout in the so-called agentic AI subsector drove SoundHound AI's stock 17% higher on Tuesday morning. This deal involved Paris-based technology consulting giant Capgemini (OTC: CGEMY) picking up sector rival WNS (NYSE: WNS) from Mumbai in a $3.3 billion buyout. It didn't involve SoundHound AI directly, but the acquisition reminded many investors of SoundHound AI's agentic AI chops.The buzz is fading today since SoundHound AI didn't immediately follow up on the market buzz with a buyout bid or a new agentic AI product of its own.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool