Artificial intelligence stocks surged Monday, with C3.ai (NYSE: AI) and SoundHound AI (NASDAQ: SOUN) leading the rally.
C3.ai (NYSE: AI) stock increased over 8% despite the absence of any company-specific announcements. Investor focus remains keen on the forthcoming fiscal third-quarter results scheduled for release on February 28 post-market closure, with analysts projecting a potential loss of $0.28 per share on revenue totaling $76.14 million.
Meanwhile, SoundHound AI (NASDAQ: SOUN) stock surged by 47%, extending its recent upward momentum. The company’s market capitalization has grown by 168% in the past month alone.
Micron Technology (NASDAQ: MU) stock saw an increase of over 4% following the announcement of the commencement of volume production of its high-bandwidth memory semiconductors, HBM3E. These semiconductors are intended for incorporation into Nvidia’s (NVDA) newest artificial intelligence chip. Nvidia stock rose 0.35% on Monday.
In separate AI-related news, Microsoft Corporation (NASDAQ: MSFT) revealed its investment in and partnership with the AI start-up Mistral as part of its strategic expansion beyond OpenAI. Mistral will integrate its open and commercial models into Microsoft’s Azure cloud computing platform. This marks its debut distribution partnership. MSFT stock slipped fractionally on Monday.
Zabih Ullah is a seasoned finance writer with more than ten years of experience. He is highly skilled at analyzing market trends, decoding economic data, and providing insightful commentary on various financial topics. Driven by his curiosity, Zabih stays updated with the latest developments in the finance industry, ensuring that his readers receive timely and relevant news and analysis.
