SoundHound AI Stock Drops 27% As Nvidia Exits Position

+2.82%

SoundHound AI

SOUN

9.86

+2.82%

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) are experiencing a sharp decline Friday following Nvidia's disclosure in a 13F filing that it has completely dissolved its stake in the company.

What To Know: Nvidia's 13F report, filed with the SEC for the quarter ending Dec. 31 2024, showed the company no longer holds any shares of SoundHound AI. Nvidia's remaining positions include Applied Digital Corp, ARM Holdings, Nebius Group, Recursion Pharmaceuticals and and WeRide Inc.

Nvidia's exit could raise questions about SoundHound AI's future growth and stability. As a major player in the AI space, Nvidia's backing likely provided credibility and confidence for other investors. This move highlights the volatility of AI stocks, where shifts in institutional investments can drive drastic price swings.

SOUN Price Action: SoundHound shares were down 29.3% at $10.79 at the time of writing, according to Benzinga Pro.

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