Recently, Zacks.com users have been paying close attention to SoundHound AI (SOUN). This makes it worthwhile to examine what the stock has in store.
Shares of SoundHound AI (SOUN) soared for a second day Thursday after the maker of artificial intelligence (AI) voice technology announced its product would be added to more Stellantis (STLA)-owned car brands in Europe.
SoundHound (SOUN) expands AI-powered voice assistant to Peugeot, Opel and Vauxhall vehicles across Europe, enhancing the in-car experience.
SoundHound AI's stock rose 86.3% in the first half of 2024. Nvidia's $3.7 million investment in SoundHound AI sparked significant interest with year-to-date gains peaking at 320%.
SoundHound AI (SOUN) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
The rollout in 11 European markets begins today, with 17 total markets expected by the end of the month. We still don't have details of the financial impact this will have on SoundHound.
Speech recognition specialist SoundHound AI (NASDAQ: SOUN ) — which leverages artificial intelligence (AI) and natural language understanding to promote conversational experiences — saw its shares rise dramatically on Wednesday. A major development with automaker Stellantis (NYSE: STLA ) helped invigorate sentiment in SOUN stock, which is on a remarkable run.
The company has stood out against larger competitors. Its brand- and data-neutral strategy is winning business.
Nvidia's investment disclosure boosted SoundHound AI's stock price in February and March . Investor enthusiasm has been fading from that high point for months.
SoundHound AI more than quadrupled at one point this year, but holding the upticks has been challenging. Revenue has been strong, with its two latest quarters being its strongest in more than a year.
SoundHound AI's stock price is down 56% from its 52-week high, opening a fine buying window. Recent debt repayment and stock restructuring moves have improved the company's financial health.
While everybody and his uncle obsesses over Nvidia (NASDAQ: NVDA ), there's another artificial intelligence (AI) investment that's still under the radar. Many stock traders haven't heard of SoundHound AI (NASDAQ: SOUN ) but it could become a household name someday.