SOUN - Better Artificial Intelligence Stock: Nvidia vs. SoundHound AI
2024-05-25 08:41:00 ET
Nvidia (NASDAQ: NVDA) and SoundHound AI (NASDAQ: SOUN) have set the stock market on fire this year with stunning gains so far, though a closer look at the trajectory of the shares of these two companies shows us that their spikes can be attributed to different reasons.
Nvidia's 90% gains in 2024 are a result of the company's outstanding top- and bottom-line growth, driven by the hot demand for its graphics processing units (GPUs) and processors for powering artificial intelligence (AI) servers.
SoundHound AI, on the other hand, sprang into the limelight in February this year when it was revealed that Nvidia holds a stake in the company. SoundHound stock subsequently jumped a stunning 347% in February.
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Better Artificial Intelligence Stock: Nvidia vs. SoundHound AI