SOUN - SoundHound AI Investors Just Got Huge News. Time to Buy?
2024-07-16 06:47:00 ET
SoundHound AI (NASDAQ: SOUN) has been popular with those looking for pure-play artificial intelligence (AI) investments. Because many of the most innovative AI companies are either private businesses or inside a division of a big tech company, pure-play investments are few and far between.
SoundHound AI's popularity has been evident this year, as the stock has risen nearly 200% in 2024. But a large chunk of that came within the past week after a huge announcement from management.
SoundHound AI makes AI audio recognition software, which is useful for many applications, including restaurant ordering and digital assistants. The latest announcement centers around its technology being used for automotive digital assistants, an application that so far hasn't proved to be useful.
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SoundHound AI Investors Just Got Huge News. Time to Buy?