Shares of SoundHound AI (NASDAQ: SOUN) took off like a shot this morning, soaring as much as 79.6%. As of 11:42 a.m. ET on Thursday, the stock was still up 48.9%.

The catalyst that drove the artificial intelligence (AI) specialist higher was the revelation that one of the biggest names in technology had taken a stake in the company.

In a regulatory filing that dropped after the market close on Wednesday, chipmaker Nvidia revealed that it had taken a position in SoundHound AI, which provides voice- and audio-recognition software and solutions to businesses.

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Source Fool.com