SoundHound AI Stock Surges 85% on $3.7M Nvidia Investment and Voice Recognition Market Potential
• SoundHound AI is a voice recognition software company that recently went public via a SPAC and saw its stock price surge 85% in 2024 • Nvidia disclosed a small $3.7 million investment in SoundHound AI, sparking investor interest • The voice recognition market is large, estimated at $160 billion by SoundHound management • Big tech companies like Apple, Microsoft, Amazon and Alphabet have acquired or invested billions in similar voice technology companies • SoundHound AI is still very small, with only $13 million in revenue last quarter, so its nearly $1 billion valuation seems premature