Nvidia Bets on AI Future, Investing in SoundHound and 4 Other Companies
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Nvidia invested in 5 AI companies including SoundHound AI, Arm Holdings, Nano-X Imaging, Recursion Pharmaceuticals, and TuSimple Holdings.
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SoundHound AI focuses on conversational AI and has grown revenue 47% in 2023. However, it operates at a loss.
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Nvidia's largest investment was $147 million in Arm Holdings. SoundHound was the smallest at under $0.4 million.
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SoundHound partners with Nvidia's Drive autonomous vehicle platform. This could expand SoundHound's reach.
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SoundHound is risky for average investors. But Nvidia's small investment means little risk for the chip giant.