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Stock impact report

Analysts rethink stock price target for Nvidia's key AI partner [Yahoo! Finance]

SoundHound AI, Inc. - Class A (SOUN) 
Company Research Source: Yahoo! Finance
This caused SoundHound to plunge 28% on Feb. 14 after the filing. SoundHound is a California-based company that focuses on white-label voice artificial intelligence that enables businesses to create custom voice assistants. The problem for those well-known AI voice assistants like Apple's Siri and Amazon's Alexa is that they are locked into tech giants' ecosystems, limiting companies' control over branding and data. That's where SoundHound saw an opportunity. Its clients span industries from Mercedes-Benz to IHG Hotels and Spotify. The company has built an in-vehicle voice assistant that uses a large language model powered by Nvidia's Drive technology. Nvidia backed this company. In February 2024, it disclosed an investment of $3.7 million in SoundHound. SoundHound recently reaffirmed its partnership with Nvidia. In a Feb. 27 investor call, SoundHound's CEO, Keyvan Mohajer, highlighted its "strong presence" at January's CES, an annual technology trade show. Related: Su Show less Read more
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