Why SOUN and GM Are Advancing Today

SoundHound AI (SOUN) and General Motors (GM) are among the winners on Wall Street today, climbing 9% and 3.5%, respectively.

SOUN yesterday announced that it had unveiled an updated AI platform for restaurants, while GM raised its dividend and unveiled a new share-buyback initiative.

Why SOUN Is Climbing Today

SoundHound AI yesterday reported that it had launched an updated version of its “voice AI-powered platform for restaurants.” The new system offers AI-powered, automated “Call-to-Order, Text-to-Order, Scan-to-Order, and In-Car Voice Ordering,” SOUN reported. Additionally, it is faster and more accurate than its predecessor.

“AI in restaurants is no longer optional – it’s the new standard. The future is omnichannel, and our advanced platform gives restaurants the flexibility to integrate automation across every customer touchpoint,” SOUN Chief Product Officer James Horn said in a statement.

Why GM is Advancing Today

GM announced that it would raise its quarterly dividend by 3 cents per share to 15 cents. The automaker also noted that it would launch a new, $6 billion share-buyback plan. GM announced a $6 billion share-buyback program in June and noted that $300 million remains under that initiative.

The company plans to buy back $2 billion of its shares by the end of June 2025. Its new overall plan has no set deadline.

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Disclosure: None. This article is originally published at Insider Monkey.