Shares of voice artificial intelligence (AI) solutions provider SoundHound AI (SOUN) have dropped 30% in the year-to-date. Further, SOUN stock has lost 48.8% of its value from its 52-week high of $24.

The company's share price was up 11% as of 11 a.m. ET and had been up as much as 14.9% earlier in the daily session. Meanwhile, the S&P 500 index was up 1.6% and the Nasdaq Composite index was up 2.1%.

Both Palantir and SoundHound AI boast strong sales and healthy financials that have contributed to their triple-digit percentage share price gains over the past year. Palantir's revenue grew by 30% year over year in the third quarter,

The conversational artificial intelligence (AI) company's share price closed out last month up 113.1%, according to data from S&P Global Market Intelligence. Wedbush's Daniel Ives kicked off a massive bullish run for the company with a note that radically updated the firm's outlook on the stock.