Nvidia Bets on SoundHound AI's Audio Technology for Drive-Thrus and Cars
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SoundHound AI is an artificial intelligence company that Nvidia has invested in. It applies AI to audio for applications like restaurant drive-thrus and in-vehicle assistants.
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SoundHound has partnerships with companies like White Castle, OpenAI, Stellantis, and Nvidia to implement its technology.
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There is excitement around SoundHound's stock due to its growth potential and relatively small current revenue. Its backlog sits at $661 million.
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SoundHound's stock valuation is very high right now at over 20 times sales. The stock would likely be volatile.
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Investors may want to allocate only around 1% of their portfolio to SoundHound due to it being a speculative long shot investment.