Nvidia Invested in SoundHound AI Stock, But Should You?
Shares of SoundHound AI (NASDAQ: SOUN) have soared this year after Nvidia (NASDAQ: NVDA) revealed that it had bought shares in the company. The chip giant made a relatively small investment, spending nearly $3.7 million to take a 0.6% stake in the company. The investment was one of five that Nvidia made in tech companies related to artificial intelligence (AI) in the fourth quarter of 2023.
So what exactly does SoundHound AI do, and should investors follow in Nvidia's footsteps and invest in the stock?
Before Nvidia's investment in the company came to light, SoundHound AI was not exactly well-known. However, the company has relationships with a number of large automobile companies that use its technology to help power their voice assistant technologies. The company's platform is incorporated into devices, such as automobiles, and its AI technology helps voice assistants interact with users in a more natural and conversational manner.
Source Fool.com
