Why Arm Holdings, SoundHound AI, and Bigbear.ai Holdings Rallied This Week
Shares of AI-related stocks Arm Holdings (NASDAQ: ARM), SoundHound AI (NASDAQ: SOUN), and Bigbear.ai (NYSE: BBAI) rallied this week, appreciating 15.4%, 21.7%, and 22.8% on the week, respectively, as of 12:13 p.m. ET, Friday, according to data from S&P Global Market .
There wasn't much in the way of company-specific news for these three names this week. However, the positive commentary from several Magnificent Seven tech giants, especially around AI investment, was enough to reboot enthusiasm for more speculative AI-related names after a month's-long sell-off.
It should be noted that a big reason these three bounced this week was because each was also caught up in the big tech sell-off over the past month. After a big run to start the year, recent higher-than-expected inflation readings caused a big pullback in highly valued artificial intelligence (AI) names heading into earnings season.
Source Fool.com
