24H | AI Stocks Shine. BigBear.ai up 10%; SoundHound AI up 5%; Palantir, Super Micro, C3.ai up 2%

Tiger Newspress
03 Mar

AI stocks rose in overnight trading. BigBear.ai up 10.85% ; SoundHound AI up 5%; Palantir, Super Micro, C3.ai up 2%.

BigBear.ai will release quarterly results after the market closes on Thursday. BigBear.ai has been securing deals with the federal government, as that has the potential to be a big growth catalyst for its business as well. On Feb. 5, it announced that it won a contract with the Department of Defense, which will help with geopolitical risk analysis.

SoundHound AI rose another 5% in overnight trading after a 17% rally last Friday after the company reported stronger-than-expected fourth-quarter financial results yesterday following the closing of the market. The company also increased its 2025 revenue guidance.

The company's per-share loss of 5 cents, excluding certain items, compared with analysts' average estimate of a per-share loss of 8 cents. SOUN's revenue jumped 101% versus the same period a year earlier to $34.5 million. The latter figure was $840,000 above analysts' mean estimate.

Palantir Technologies, Super Micro roose more than 2% in overnight trading. AI stocks got hit last week with big sell-offs after Nvidia published its Q4 results on Wednesday. The results were actually better than expected, and nothing immediate in Nvidia's report signaled headwinds for Palantir. However, the artificial intelligence (AI) chip leader highlighted uncertainty surrounding potential chip export restrictions in its earnings call.

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