SOUN - Will SoundHound AI Be a Trillion-Dollar Stock by 2050?
2024-06-22 04:40:00 ET
SoundHound AI (NASDAQ: SOUN) initially impressed a lot of investors when it went public by merging with a special purpose acquisition company (SPAC) on April 28, 2022. It developed audio and speech-recognition services that weren't tethered to tech giants like Alphabet 's Google or Microsoft .
But like many other SPAC-backed companies, SoundHound overpromised and underdelivered. It only generated $46 million in revenue in 2023, compared to its optimistic target of $98 million which it provided during its pre-merger presentation.
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Will SoundHound AI Be a Trillion-Dollar Stock by 2050?