Soundhound AI's stock price soared in 2024 with strong revenue growth and market potential

From Nasdaq: 2025-01-22 05:47:00

Soundhound AI’s stock price soared 836% in 2024, outshining Nvidia and Palantir. With a market cap of $5 billion, the company’s voice AI technology serves big names like Hyundai and Applebee’s. Revenue growth is strong, reaching $25.1 million in Q3 2024, with a massive market opportunity ahead.

While Soundhound AI shows promise, competition and profitability risks remain. Despite a Q3 2024 net loss of $21.8 million, the company aims for positive EBITDA by year-end. With a diverse customer base and potential for growth, Soundhound AI stock could offer long-term potential, though not guaranteed.

Consider Soundhound AI’s potential carefully before investing. While not in the Motley Fool’s top 10 stock picks, the company’s growth story and market opportunities could lead to significant returns. Soundhound AI’s success hinges on out-innovating rivals and capitalizing on the expanding voice AI market.



Read more at Nasdaq: Could Buying SoundHound AI Stock Today Set You Up for Life?