All articles tagged with #soundhound
The article highlights three AI stocks—Alphabet, SoundHound, and Amplitude—that are promising long-term investments due to their strong market positions, innovative AI technologies, and growth potential over the next decade, making them suitable for investors with a $2,000 budget looking to hold for the long term.
While big tech dominates AI headlines, smaller stocks like SoundHound and GitLab show strong potential for outperformance due to their innovative approaches and growth strategies, with SoundHound focusing on voice AI and GitLab on AI-driven software development tools.
Major stock indexes finished higher with the Dow, S&P 500, and Nasdaq all gaining, driven by strong earnings reports from companies like Apple and Alphabet, and a surge in AI-related stocks like SoundHound, amid a week of significant gains and record highs in the Nasdaq.
The AI market is poised for significant growth, with projections to expand from $184 billion in 2024 to $826 billion by 2030. Two promising AI stocks to consider for long-term investment are SoundHound AI and Advanced Micro Devices (AMD). SoundHound, a leader in AI-powered voice assistants, is rapidly growing and expanding its market reach beyond automotive and restaurants. Despite current lack of profitability, it aims for positive EBITDA by 2025. AMD, known for its CPUs and GPUs, continues to gain market share and shows potential for strong returns.
Palantir Technologies and SoundHound have both seen significant stock gains in 2024, driven by strong demand for their AI solutions. Palantir's AI Platform has led to substantial revenue growth, particularly in the U.S. government and commercial sectors, despite concerns over its high valuation. SoundHound, specializing in voice AI, has also experienced robust growth, bolstered by strategic acquisitions and a strong backlog. While both companies face valuation concerns, SoundHound is favored by analysts, though both present growth opportunities in the AI sector.
Nvidia is looking to expand its AI capabilities by investing in lesser-known companies, including SoundHound, Nano-X Imaging, Recursion Pharmaceuticals, and TuSimple Holdings, to compete with Tesla. SoundHound provides AI software for various industries and has seen a significant increase in its stock value. Nvidia's investments indicate a strategic move to strengthen its position in the AI market and potentially challenge Tesla's dominance.
Nvidia's investments in AI-related companies Arm Holdings, SoundHound AI, and Recursion Pharmaceuticals have caused their stocks to soar, with SoundHound experiencing a significant 80% increase. This move reflects market enthusiasm for Nvidia and other associated stocks, as the company's market cap recently surpassed that of Amazon and Alphabet. Nvidia's CEO Jensen Huang's stamp of approval for these investments is seen as a positive indicator for SoundHound and further solidifies the company's brand within the AI Revolution.