Shares of voice artificial intelligence (AI) solutions provider SoundHound AI (SOUN) have dropped 30% in the year-to-date. Further, SOUN stock has lost 48.8% of its value from its 52-week high of $24.

The company's share price was up 11% as of 11 a.m. ET and had been up as much as 14.9% earlier in the daily session. Meanwhile, the S&P 500 index was up 1.6% and the Nasdaq Composite index was up 2.1%.

Both Palantir and SoundHound AI boast strong sales and healthy financials that have contributed to their triple-digit percentage share price gains over the past year. Palantir's revenue grew by 30% year over year in the third quarter,

Shares of tiny robotics firm Arbe Robotics (NASDAQ:ARBE) are rocketing 53% higher heading into midday after reporting a collaboration with Nvidia (NASDAQ:NVDA) for AI-enhanced mapping technology for the automotive industry.