SoundHound AI Records Largest of Five AI-Linked Declines at 3.83%

SoundHound AI showed a 3.83% decline, the largest among five AI-linked names in early Tuesday market figures, as major U.S. stock indexes moved lower and the VIX rose.

Super Micro Computer was down 3.51%, followed by Tempus AI at 3.39%. Nvidia declined 3.17%, and Arm was down 3.11%.

The Nasdaq Composite had the steepest decline among the three major indexes at 0.96%. The S&P 500 was down 0.72%, while the Dow Jones Industrial Average declined 0.49%. The VIX gained 5.27%.

SoundHound AI announced plans on Nov. 5 to cut about 27% of its global workforce as part of a restructuring aimed at sustained profitability. The announcement came alongside its third-quarter revenue results.

In crypto spot markets, Bitcoin (BTC) was $73,941 at 9:37 a.m. ET (14:37 UTC), down 0.85% over 24 hours. Ether (ETH) was $2,071.58, down 2.45% over the same period.