From Nasdaq:

Buying and holding solid companies for a long time can significantly increase the value of investments through the power of compounding and disruptive innovation. Companies like Nvidia and Netflix have multiplied investments over a decade, presenting as case studies of this method. SoundHound AI aims to tap into the conversational intelligence market that is projected to grow significantly in the coming years. The company has an impressive customer base and strong financial growth, with a 51% year-over-year increase in revenue estimated for the current quarter.

SoundHound has generated almost $29 million in revenue in the first nine months of 2023, with an anticipated $18 million in revenue in the following quarter and an annual revenue of $47 million. The company has a cumulative bookings backlog worth $342 million, along with revenue estimates of $165 million in 2024 and 2025. SoundHound has the potential for a significant long-term growth and could deliver healthy stock market gains.

Although SoundHound may not turn a $100,000 investment into a million over the next seven years, the company’s impressive upside potential could deliver healthy stock market gains over the long run. SoundHound has the potential for robust long-term growth, making it an attractive option for investors looking to buy an AI stock.



Read more: Could SoundHound AI Stock Help You Become a Millionaire?