Nvidia Bets on Conversational AI Firm SoundHound's Growth Potential Despite Risks
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Nvidia recently invested $6.5 million in SoundHound AI, an under-the-radar company specializing in conversational AI technology.
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SoundHound partners with major brands like Hyundai, Square, and White Castle to provide voice-based AI for applications like drive-thrus, in-car assistants, etc.
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SoundHound saw its biggest revenue growth ever in 2022, is guiding for strong Q4 results, and has $341 million in order backlog.
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While still losing money and risky, SoundHound has huge potential in the booming AI market.
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Motley Fool suggests following Nvidia's lead by taking a small position, but brace for volatility.