The company's share price was down 7.3% as of 11 a.m. ET amid a 1.4% decline for the S&P 500 index and a 1.7% pullback for the Nasdaq Composite index. In conjunction with the report, the yield on 10-year U.

SoundHound AI (NASDAQ: SOUN) stock posted a month of explosive gains across December's trading. The conversational artificial intelligence (AI) company's share price closed out last month up 113.1%, according to data from S&P Global Market Intelligence.

Shares of SoundHound AI (SOUN) surged around 836% in 2024. The voice artificial intelligence (AI) technology leader benefitted from rising demand for its offerings and significant growth opportunities across key verticals such as automotive,