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엔비디아가 SoundHound AI에 370만 달러를 투자해 주가가 급등했고, 음성 AI 기술과 현대차·Applebee's 등 고객사를 근거로 성장성이 크다는 주장. 매출 150% 이상 성장, 2026년 매출 5~6배 밸류에이션, 시총 20억 달러 수준 대비 잠재력을 강조하며, 적자 지속과 R&D 축소 등 리스크도 언급함.
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Plenty of people are betting on Nvidia, but who is Nvidia betting on? Well, filings last week revealed that the chip giant had taken a $3.7 million stake in SoundHound AI, a provider of smart voice assistant software. The announcement sent shares up 66%. SoundHound shares have more than doubled in the month of February, as you see there, month-to-date up 120%.
Joining us now is the happy CEO of SoundHound AI, Keyon Mohajer. Keyon, welcome. Good to have you with us.
Thank you for having me.
So, a little move in the stock must hearten you as the CEO of this company?
Well, we are focused on value creation, long-term value creation, but it's great to have the right attention that we deserve. We've been at this for almost 20 years and building a lot of foundation, technology. How did this stake by Nvidia come about? How does that happen? Do they call you and say, "We're going to take a position in your company"? What is the behind-the-scenes part of that?
Well, we've known Nvidia for a number of years, and they've been a great ally and shareholder in our company for a number of years. If you think about it, they are in AI, they are building the foundation and infrastructure for AI, and SoundHound is putting that infrastructure into really good use with our voice AI and conversational AI technology.
Imagine waking up to discover that a mere $3.7 million investment turned into a windfall, yielding a staggering 147% return in just a matter of months. This is exactly what Nvidia achieved by strategically backing a suite of AI companies, including a promising startup that goes by the name SoundHound AI. With tantalizing prospects and a tech portfolio that outshines its competitors, SoundHound AI is making waves in the stock market. And guess what, the best might be yet to come. If you thought a 147% return was impressive, some analysts are hinting that this AI gem could see its value increase by another 1,000% over the long term. Intrigued? Let's dig deeper into why Nvidia's faith in SoundHound AI might just be the golden ticket every investor dreams of.
Welcome back, everyone, to Investocracy. It's fascinating stuff. Your products are in two areas. One is customer service. In other words, if I go to a Dunkin' Donuts or a Krispy Kreme or whatever, a drive-through with an outdoor automated ordering system, it listens to my voice and says, "I want the number seven with no onions and extra cheese." That's what it does. And the other thing is it enables me, in my automobile for example, or in my home, to tell an appliance or a car what to do. Am I right? Is that what you do?
Yes, there are tremendous opportunities in AI, but at SoundHound we made two predictions, and we're focusing on those. One is that AI customer service will be as essential for every business as Wi-Fi and electricity. You create your business, you sign up for a website, you sign up for Wi-Fi, you sign up for electricity, you sign up for AI. We specialize in that. The second prediction is that we will prefer talking to devices over other forms of interface.
If you tell me that, I'm going to believe it and hold you to it, because often when I talk to my device, the person on the other end, whether it's Siri or Alexa, doesn't get it right half the time.
It's changed in the last year or so thanks to generative AI. It's so much better. And people prefer voice if it works right. If it works, I prefer it. I have a three-year-old daughter. She knows how to speak, but I still have to teach her how to type and use a mouse and keyboard. She goes around the house and talks to everything, and not everything talks back. She talks to the refrigerator, she talks to the dishwasher.
Well, fortunately for device makers, they can afford to put a very small, inexpensive microphone in their devices. It doesn't take that much to add voice to their products.
Driving headlong into the bustling world of AI, let's talk about SoundHound AI, a company putting real muscle behind voice command technologies. Founded over a decade ago, SoundHound AI has been quietly building an empire, amassing over 200 patents and a host of high-profile clients, including a seven-year contract with none other than Hyundai. Imagine chatting with your car, not just for directions or toggling the air conditioning, but for anything from scheduling maintenance to discussing vehicle performance. That's the kind of futuristic tech SoundHound AI is bringing to market today.
For starters, consider the impact of SoundHound AI technology in the hospitality and quick-service restaurant sectors. Take Applebee's and White Castle, which are piloting SoundHound AI's technology to streamline order times and cut operational costs. One might joke that soon even the burger flippers will start talking back at the drive-through. But in all seriousness, this advancement underscores how integral SoundHound AI's technology is becoming across multiple industries. It's not just about convenience; it's a revolutionary shift in how we interact with machines, making those interactions more intuitive and efficient.
Furthermore, SoundHound AI's market cap remains under $2 billion, but its potential end markets certainly support a higher valuation. According to the company's management, the voice AI market has a total addressable market size of at least $140 billion. Even more striking is Nvidia's massive vote of confidence, an endorsement that has steered SoundHound AI toward relevance and credibility in a space inundated with competitors.
I mean, you had some great interviews last night. I know we'll play some excerpts, whether it's Mwan or Renee Haas. But what's the chatter? Given our endless conversation about AI, I'd assume it's the same out there. It's about who needs Jensen and who doesn't. If you need Jensen, you're in trouble, and you're worried about allocation. If you don't need Jensen, you have a pretty good run of the place. Hwan does not need Jensen. He does not need Jensen Huang to make it so that he gets Blackwell. But David, we keep thinking about that little piece you ran yesterday, where Larry Ellison talked about how they needed to get right with Jensen. That is the real subject of discussion. Oracle's resurgence from a 2% grower to something far bigger is because they've got it right with Jensen. Ellison is now number two on the world's richest list, dethroning Bezos and catching up to Elon Musk. Certainly Oracle's 20% gain in a month will help that. The data makes the case stronger.
Over the past two years, SoundHound AI's revenue has seen a surge of over 150%. If it can sustain such growth, the company's shares would be valued at five to six times 2026 revenue, bringing it into a much more digestible valuation range for diligent investors. This could make the difference in an industry where timing and market position are crucial for long-term success.
However, not all that glitters is gold, as the saying goes. Despite the rosy picture, SoundHound AI has its set of challenges. It continues to be unprofitable and frequently finds itself needing additional financing to stay operational. Last year it slashed research and development spending by 30% to $56 million, a stark contrast to the billions being funneled into AI by industry giants like Apple and Alphabet. This raises the question of whether SoundHound AI can compete sustainably in the long run.
Beyond the financial metrics and market analyses, it is also essential to understand the underlying technology that sets SoundHound AI apart. Its Houndify platform, a highly advanced voice AI platform, has been at the center of this technological revolution, leveraging machine learning algorithms and vast data sets. Houndify provides incredibly accurate and context-aware voice recognition. This technology is not only revolutionizing consumer applications but also finding groundbreaking implementations in enterprise solutions. Take a closer look at how Houndify is transforming customer experiences. For example, it can help a user interact with smart home devices, streamline office tasks by integrating with productivity tools, and even enhance accessibility for people with disabilities. Its applications are as diverse as they are innovative. Moreover, SoundHound AI is making significant strides in improving language processing capabilities, allowing for more natural and fluid interactions between humans and machines. This makes the technology not just practical but truly transformative.
We're talking about energy, about this new industry called "AI factories." Artificial intelligence is obviously at the beginning of a new industrial revolution, and this industry is going to be producing intelligence. What it takes is energy, a lot of great computer science, and the large computing systems that Nvidia makes. So we've got to make sure everybody understands the coming needs, the opportunities, and the challenges, and does it in the most efficient and scalable way we can.
Absolutely. Do you see the need for a federal role here, in terms of federal investment in combination with private investment?
There's probably going to have to be public-private collaboration in this area, because the rate of growth is really quite high. Although artificial intelligence consumes a lot of energy to train, it also saves a lot of energy when you use it, because ultimately it's not about training the model, it's about using the model. Whether it's in healthcare, climate technology, or just running the power grid, artificial intelligence has the opportunity to really save a ton of energy. People are grappling with the scale of the opportunity ahead and the scale of the challenges ahead, so it's going to require public and private collaboration.
In summing up, SoundHound AI presents a compelling narrative for investors seeking substantial growth. While no investment is without risk, especially in the saturated AI market, the combination of Nvidia's backing, a robust portfolio, and technological prowess sets SoundHound AI a notch above many of its competitors. Its significant contracts and rising adoption across industries underscore its potential to scale and ultimately achieve that elusive $20 billion valuation. As it stands, SoundHound AI's market position is ripe for growth, and forecasts suggest the company is heading toward major breakthroughs. The stock, while currently trading at a relatively modest price, is expected to rally as the company hits its stride in terms of revenue and market share.
So what do you think? Is SoundHound AI the next big thing in AI investments, or do you see the looming risks outweighing the potential rewards? Your thoughts could be crucial as we navigate this fascinating landscape. Drop your opinions below. We would love to hear what fellow investors and tech enthusiasts think about this promising yet risky venture.
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