SoundHound AI SYM: (SOUN) is the company that provides voice control and audio analytics software to auto makers, drive-through restaurants, and other businesses with phone-based menu systems.
Better, one of its biggest investors is Nvidia, which invested about $3.7 million in the company. The investment arm of SoftBank also invested $2.3 million in SOUN. While those are small investments, it says a lot that industry giants are jumping in.
Helping, the company’s co-founder and chief executive Keyvan Mohajer recently said, “Our first quarter sets the tone for 2024 as another year of strong growth for SoundHound Voice AI is fast becoming a must-have tool for customer service, and that’s reflected in the demand we’re seeing for subscriptions.”
In addition, analysts at Wedbush just said SOUN is “well-positioned” to capitalize on the demand for AI chatbots as it partners with various companies, including restaurants.
“Overall, we believe this was a major step in the right direction for the SOUN story as the company continues to build toward profitable growth with stable revenue pillars in Automotive/Restaurant and strong monetization capabilities to capture demand from enterprises across industries that seek ways to optimize efficiencies.”
