SoundHound AI, Inc. (NASDAQ:SOUN) faced a rough day, with a 6.47% drop to $12.44 as investors expressed concerns over the Artificial Intelligence industry’s future. Altman’s warning about an “AI bubble” drew parallels to the dot-com crash, where many tech companies failed to turn a profit, causing losses of up to 80% on the Nasdaq.

Despite a 217% revenue increase to $42.68 million in Q2, SoundHound AI, Inc. (NASDAQ:SOUN) reported a $74.7 million net loss, doubling from the previous year. While potential exists for SOUN, other AI stocks may offer better returns with lower risks, making them more attractive investments.

Read more at Yahoo Finance: SoundHound (SOUN) Gets Battered by AI Doubts