After the income initially appeared in Thestretet, 43%.
Soundhound AI, once hot in stock at NVIDIA support, but later slides after the manufacturer of the microchip regains acceleration.
In two trading sessions, Soundhound s (Soun) Following record income issuing, the campaigns increased by more than 43%. Shares on August 11 Increased by 17.3%, after another 26.4% profit on August 8th.
However, stock remains 34% below December peak and this year is still reduced by about 20%.
2024. At the beginning of the NVIDIA (NVDA) revealed $ 3.7 million. USD investment in Soundhound. But February Ai-Chip giant revealed that he sold all its shares, so on February 14th. Soundhound decreased by 28%.
Now, Wall Street is looking at shares’s potential again, even without NVIDIA support.
Soundhound AI is developing voice technology to help companies create their own assistants. Its system combines voice recognition to the interview to achieve the interaction between people and AI models.
Voice assistants such as Siri, Alexa and Google Assistant have been part of everyday life for more than a decade, answered questions, identified reminders and control smart devices.
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However, they always come with a compromise for companies that they wanted to use because they had to stay on the Big Tech walls, forcing companies to abandon brand development and consumer data control.
This is a confiscated opening sound.
Founded in Santa Clara, California, Soundhound is now creating a white label voice that allows companies to create their own custom assistants. Customers include Mercedes-Benz, IHG Hotels and Spotify.
According to the Grand View Research, the Voice AI market is thriving, and it is projected that from 2024 to 2030 each year. Will grow by almost 30% from 2024 to 2030. Soundhound’s latest income shows that it grows even faster.
In the second quarter, the company’s revenue increased by 217% to $ 43 million a year. USD for the highest level of all time and higher expectations of 33 million. USD. This has led to a new victory and the sale of products between customers.
“We are moving at speed to capture the explosion we see in the AI industry,” CFO Nitesh Sharan said in a report.
Still, Soundhound is not yet profitable. In the second quarter, the losses per share per share were 3 cents, better than the expected loss of 5 cents.
Soundhound has increased its perspective to $ 160 million to $ 178 million throughout the year, with a midpoint exceeding $ 164 million in agreement from FACTSET.