After rocketing more than 40% at its high this week, SoundHound AI ( SOUN -10.29%) stock gave back much of those gains. But shares were still higher by about 10.3% for the week, as of late Thursday, according to data provided by S&P Global Market Intelligence.

SoundHound AI shares are trading lower by 4.8% during Wednesday's session. The stock may be experiencing a pullback due to profit-taking after a 47% surge over the past week.

Shares of voice assistant technology company SoundHound AI (NASDAQ: SOUN) skyrocketed 85.1% during November, according to data provided by S&P Global Market Intelligence. The company did report financial results for the third quarter of 2024 during the month.

SoundHound Chief Financial Officer Nitesh Sharan is participating in a conference call hosted by Northland Wednesday afternoon

The primary catalyst for the rise is SoundHound’s announcement of its AI Smart Ordering service rollout at Torchy’s Tacos, covering all 130 of the restaurant’s locations.

The conversational-AI company's share price closed the day up about 12.5%. While there wasn't any direct business news pushing SoundHound AI's stock higher today, the company's share price was gaining ground in conjunction with news from other corners of the artificial intelligence (AI) market.

SoundHound AI (SOUN) and Quantum Computing (QUBT) are both rallying by well over 20% today. SoundHound develops voice-based AI solutions, while Quantum Computing sells quantum machines that are used to solve extremely complex problems and process data.