- Shares of SoundHoundAI extended gains on Tuesday, bringing its rally over the past month to 300%.
- That's after closing with a 43% gain on Monday as Google released its Bard chatbot to take on rival ChatGPT.
Shares of SoundHoundAI were higher on Tuesday, as the $4 continues to spur investor interest in artificial intelligence stocks.
The stock rose 5% to $4.23, after closing with a gain of 43% just a day earlier. SoundHoundAI's meteoric rise has seen the stock add nearly 300% since January 6, after going public via a special purpose acquisition company in April of last year.
Early on Tuesday, SoundHound announced plans to add voice-enabled operating ability to artificial intelligence applications like ChatGPT.
SoundHound specializes in voice-activated interfaces to cars and a variety of other devices. The company did not specifically list ChatGPT as one of its potential future partnership clients.
Investor interest in $4 has spurred a rising tide for both small-cap and large-cap firms since the launch of ChatGPT in November.
The hype around AI ramped up further when $4 on Monday, while Microsoft is expected to make a ChatGPT announcement on Tuesday after making a multibillion-dollar investment in the chat bot's parent company OpenAI.
The investor stampede into AI stocks has extended to China as well. Shares in Baidu surged on Tuesday after the $4.
But other stocks that have seen bull runs in recent weeks, including BigBear.ai and C3.ai, have cooled off somewhat. Google's Bard announcement likewise did little to lift parent-company Alphabet stock on Monday.