SoundHound AI Soars on Booming Voice Tech Demand and Strategic Nvidia Partnership
• SOUN stock is an emerging AI voice software company that has seen impressive revenue growth recently. Revenue was up 80% YoY in Q4 2023.
• Nvidia invested $3.7 billion in SoundHound AI, seeing strong synergy between Nvidia's AI infrastructure and SoundHound's voice applications.
• SoundHound AI CEO sees a $100 billion opportunity in voice-enabled devices and automobiles. Their tech could power voice functionality.
• SoundHound improved gross margins from 69% to 77% over the past year as revenue scales. Still not profitable but losses narrowing.
• SOUN can be a complementary AI investment to NVDA stock. SOUN focuses specifically on voice while NVDA provides infrastructure.