SoundHound AI Shares Jump After Snowflake's Record Earnings Boost AI Market

SoundHound AI (NASDAQ:SOUN) rose 5.7% to $8.59 following Snowflake's earnings report, which saw the cloud data company surge 35% on strong AI workload growth. Snowflake’s quarterly AI accounts jumped from 9,100 to 13,600, prompting a raise in its full‑year guidance and easing concerns about a “SaaSpocalypse” in the software sector. The positive ripple effect lifted other AI‑related stocks, including SoundHound.

Separately, traders bought 158,395 call options on SoundHound AI—a 105% increase over the typical daily volume—signalling heightened investor interest. Analyst coverage is mixed, with ratings ranging from strong‑buy to hold and price targets from $9 to $14.9. Recent insider sales saw CEO Keyvan Mohajer and other executives sell shares worth over $2 million combined in the past three months.