After what looked like a lull in trading and decreased interest in the stock, shares of SoundHound AI (NASDAQ: SOUN) appear to be taking off again. The company's potential in the voice artificial intelligence (AI) market drove a lot of bullishness in the stock earlier in the year, but that proved to be a short-lived rally. But now, investors are excited once more about the stock, given some fairly exciting developments. Can the rally last this time, and should investors buy this hot AI stock?

Last week, SoundHound announced that its AI voice assistant, which integrates with ChatGPT, is now live with several different Stellantis brands, including Peugeot, Opel, and Vauxhall. The voice assistant gives users the ability to make hands-free voice commands and ask questions about any topic, all while driving. The company calls this a milestone for its business as it looks to "revolutionize in-vehicle voice assistants."

The press release didn't provide any estimate as to how much revenue this might mean for the business, but investors were bullish on the news all the same. Shares of SoundHound popped 22% on the day of the press release and would go on to climb even further as the week progressed. In just the past month, the stock is now up 40%.

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Source Fool.com