Could Buying SoundHound AI Now Be Like Buying Nvidia in 2023?

Which banal is the bigger victor implicit the past 12 months: SoundHound AI (NASDAQ: SOUN) oregon Nvidia (NASDAQ: NVDA)? The close reply is SoundHound AI, acknowledgment mostly to a immense surge successful the second portion of 2024.

While SoundHound AI isn't astir arsenic well-known arsenic Nvidia, it's nary longer flying nether the radar arsenic it erstwhile did for galore investors. Could buying this up-and-coming artificial quality (AI) banal present beryllium similar buying Nvidia successful 2023?

To reply that question, we request to look backmost to spot wherever Nvidia was 2 years ago. OpenAI had launched ChatGPT a twelvemonth earlier. Organizations worldwide were scrambling to make generative AI applications.

Nvidia sat successful the catbird seat. Its GPUs were the golden modular successful powering AI models. Although the company's superior absorption successful the past was gaming, its maturation was tied to the information halfway market. And Nvidia was decidedly growing. The chipmaker reported its fiscal 2024 third-quarter results connected Nov. 21, 2023. Revenue much than tripled year-over-year.

The institution was besides innovating astatine a frantic pace. Nvidia announced the forthcoming motorboat of its HGX H200 with a Tensor Core GPU. It introduced an AI foundry work to velocity the improvement of generative AI applications. The company's CUDA Quantum level for quantum computing (now known arsenic CUDA-Q) was gaining momentum.

Are determination similarities betwixt SoundHound AI present and Nvidia then? Yep. Like Nvidia, SoundHound AI markets the best-in-class products successful its market. In this case, it's the dependable AI market. SoundHound's exertion is utilized by a "who's who" successful the automotive and edifice industries and is attracting caller customers successful different sectors.

SoundHound AI is besides increasing rapidly. Its gross jumped 68% year-over-year successful the 3rd 4th of 2025. The institution expects full-year gross volition much than treble its 2024 total.

Like Nvidia successful 2023, SoundHound AI is simply a powerhouse of innovation. As a lawsuit successful point, IDC MarketScape precocious named the institution a person successful general-purpose conversational AI platforms. IDC's Hayley Sutherland said that SoundHound's level "is rapidly updating with caller and enhanced features to service a breadth of businesses crossed a assortment of beforehand and backmost bureau usage cases."