Source: radioshoot/ShutterStock.com
Auddia (NASDAQ:AUUD) stock is soaring today, driven by the revelation of a groundbreaking patent on its core artificial intelligence (AI) technology.
The patent pertains to Auddia’s faidr app, which provides ad-free music via radio stations rather than traditional wireless networks.
Additionally, the company is progressing with a provisional patent application initiated last year, focusing on enhancing large language model prompts using AI. The next step involves securing official approval from the U.S. Patent and Trademark Office.
Jeff Thramann, Executive Chairman of Auddia, expressed optimism about the patent’s significance.
“Issuance of this patent validates our innovation and secures our AI for Audio technology as a proprietary platform we look forward to building upon to drive new innovations in support of additional industry first premium audio listening experiences.”
AUUD Stock Surge on Monday
The announcement of the patent triggered heavy trading of AUUD stock today, with over 102 million shares exchanged, significantly surpassing the daily average trading volume of approximately 393,000 shares.
As of Monday morning, AUUD stock surged by an impressive 192.4%.
Stay tuned for more updates on the latest stock market developments!
Explore the current market movements of companies like Ocugen (NASDAQ:OCGN), Apartment Income REIT (NYSE:AIRC), and Sanofi (NASDAQ:SNY) to stay in the loop!
Additional Stock Market Highlights for Monday
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As of the publication date, William White maintained no direct or indirect positions in the securities referenced. The views expressed are solely those of the author and in alignment with the InvestorPlace.com Editorial Standards.
