SOUN - SoundHound AI: Nvidia SoftBank Investments Put Into Perspective

2024-02-16 07:00:00 ET

Summary

• SoundHound AI's stock surged after Nvidia and SoftBank revealed stakes in the company through 13-F filing.
• The investments from Nvidia and SoftBank are relatively small, however.
• After a difficult 2023, SoundHound AI's Q4 will be an important quarter for the company after it issued a strong quarterly forecast.

Back in April , I started coverage of SoundHound AI (SOUN) with a "Hold' rating, saying while the company had some nice opportunities in the automotive and restaurant verticals but a recent restructuring and its growth rate were two yellow flags. From then until Valentine's Day, the stock was down -25% compared to a 21% gain in the S&P...

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