Zoom (ZM) Stock Is Trending in After-Hours Trading: Here’s Why

Zoom Communications Inc. (NASDAQ:ZM) shares are trending on Thursday.

Shares of the Californian communications technology company edged 0.22% lower to $97.86 in after-hours trading on Wednesday as the 7.89% intraday rally cools down.

In the regular session, the stock closed at $98.08, up $7.17, according to Benzinga Pro data.

Zoom Stock Movement Follows AI Launchpad Announcement

The stock movement comes after Zoom announced its AI Launchpad program on Tuesday. According to a company press release, the program offers eligible startups up to $150,000 in credits for Zoom AI Services, without requiring them to give up any equity.

The credits are available for up to 12 months. Participants may also receive engineering guidance, showcase opportunities through Zoom’s developer channels and introductions to potential enterprise customers.

What Startups Get

The program builds on Zoom AI Services, which offers standalone APIs for speech recognition, summarization, translation, voice AI and decision intelligence.

"AI startups should spend time solving real problems, not stitching together infrastructure," said X.D. Huang, Zoom’s chief technology officer.

Applications are open and will be reviewed on a rolling basis. Zoom said only a limited number of startups will be accepted.

Trading Metrics, Technical Analysis

Zoom Communications has a market capitalization of about $28.62 billion. Over the past 52 weeks, its stock has traded as high as $114.74 and as low as $70.70.

SLGB has a Relative Strength Index (RSI) of 56.69.

Over the past 12 months, the large-cap stock has gained 15.95%.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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