Posted 4/6/2024, 9:59:00 AM
Nvidia Bets on AI Startups Including Fast-Growing but Risky SoundHound
- Nvidia bought stakes in 5 AI companies, including voice recognition firm SoundHound AI which is up 142% in 2024
- Nvidia revealed these investments in a new 13F filing, showing its largest bet was $147M in Arm Holdings
- SoundHound focuses on conversational AI used in autos and restaurants to interact hands-free
- SoundHound's revenue grew 47% in 2023 to $46M but it posted $92M in losses, concerning amid only $95M cash
- Buying the volatile SoundHound stock is risky for average investors compared to Nvidia's tiny $8.7M position