Did Nvidia Make a Mistake by Selling SoundHound AI Stock? The Answer Might Surprise You.

Nvidia (NASDAQ: NVDA) has become the world's largest company on the back of surging demand for its data center chips, which are the gold standard for developing artificial intelligence (AI) models. The chip giant occasionally puts its vast financial resources to work by investing in other AI companies, and SoundHound AI (NASDAQ: SOUN) was one of them.SoundHound is a specialist in conversational AI technologies, and its customers include some of the world's biggest brands. Nvidia first revealed its stake in the company in a 13-F filing with the Securities and Exchange Commission in February 2024, but the chipmaker had sold its entire position by December. SoundHound's revenue tripled during its most recent quarter, and its stock is up by a whopping 40% in the past month alone. Did Nvidia make a mistake by dumping its position? Read on for the surprising answer.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool