Sound Hound AI company about stock
🎙️ About SoundHound AI 🎶
🔍 Company Overview
SoundHound AI, Inc. is a company that develops voice recognition and artificial intelligence (AI) technologies, and provides AI-based voice assistant and voice search solutions. 🧠🔊
🏢 Establishment and Headquarters
Year of Establishment: 2005
Headquarters: Santa Clara, California, USA
🚀 Major Company Parts
✅ AI Voice Assistant Technology: SoundHound's Houndify platform is used in cars, smart devices, and enterprise AI assistants. 🚗📱💡
✅ Voice Search and Music Recognition: The SoundHound app, which finds song information when you play it, has gained attention. 🎵🔍
✅ AI Chatbot and Automation Solutions: The company provides customized AI voice technology to various industries and is working with global companies such as McDonald's, Toyota, and Honda. 🍔🚙
📈 Key Features and Growth Points
✨ Developing an AI secretary that can converse naturally with people using natural language processing (NLP) technology 📢🗣️
✨ Collaborating with the automobile industry to introduce voice control systems in vehicles 🚘🔊
✨ Expecting future growth potential along with the growth of the voice AI market 📊📈
https://www.investing.com/news/pro/soundhound-ai-weakness-tied-to-nvidias-13f-showing-it-liquidated-stake-432SI-3870177
SoundHound AI (NASDAQ:SOUN) Shares Gap Down - Here's Why
SoundHound AI (NASDAQ:SOUN) Shares Gap Down - Here's What Happened
www.marketbeat.com
📉 Latest news
SoundHound AI's stock price recently fell sharply due to news of NVIDIA's stake sale. On February 14, 2025 (local time), NVIDIA announced in a filing with the U.S. Securities and Exchange Commission (SEC) that it had sold all of its stake in SoundHound AI. Following the news, SoundHound AI's stock price fell 28.10% to close at $10.97 per share.
NVIDIA's decision was part of a restructuring of its investment portfolio, in which it sold all of its stakes in Serve Robotics and Nano-X Imaging in addition to SoundHound AI. On the other hand, it changed its investment direction by newly purchasing shares in WeRide, a Chinese autonomous driving technology company, and Nebius Group, an AI cloud service company.
Experts analyze that NVIDIA's stake sale directly affected the decline in SoundHound AI's stock price. NVIDIA's withdrawal from the investment could raise doubts about the company's future growth potential in the market, which could negatively affect investor confidence. In addition, the fact that SoundHound AI's key executives sold off a large amount of their own stock also served as a factor that increased investor concerns.
Meanwhile, SoundHound AI recently announced its third-quarter earnings, recording a record-high $25.1 million in sales, up 89% year-over-year. It also succeeded in diversifying its customer base by significantly reducing its single-customer dependency from 72% in 2023 to 12% in 2024. Despite these positive results, the news of major investors' stake sales and executives' stock sales appear to have had a negative impact on the stock price.
Currently, SoundHound AI's stock price is $10.965, down 0.28066% from the previous day.