markets

Matt Phillips1/6/25

Shares of SoundHound rival Cerence surge on Nvidia collaboration

Cerence, a vendor of voice-recognition software and a rival of retail trading favorite SoundHound AI, has seen its shares go vertical in recent days since issuing a jargon-laden press release announcing an “expanded collaboration with Nvidia” to enhance its AI voice software for use in cars.

Based on the press release, it’s hard to determine exactly what’s going on here. What does Cerence mean by collaboration? Are they merely using Nvidia products? If so, why is this considered revolutionary for the company? (Perhaps it just means Cerence’s software will perform better.)

At any rate, the mood of the market is such that the mere mention of Nvidia seems to be sufficient justification for a massive stock move. Cerence shares are up 160% over the last two trading sessions.

For the record, SoundHound’s market romp over the last year — it’s up 900% over the last 12 months — was also triggered by proximity to Nvidia, after the chip giant disclosed that it had a small stake in the company last February. According to FactSet Nvidia owns roughly 0.5% of SoundHound’s shares outstanding and is the company’s 10th largest shareholder.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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