SoundHound AI Stock Has Plummeted by 53%. This Move by Nvidia Is a Key Reason Why.

SoundHound AI (NASDAQ: SOUN) is a specialist in conversational artificial intelligence (AI) software, which understands voice prompts and responds in kind. Its customers include some of the world's biggest brands, and it even attracted an investment from Nvidia (NASDAQ: NVDA).Nvidia supplies the world's most powerful data center chips for AI development, and booming sales have driven its market capitalization from $360 billion to $3.83 trillion over the last two and a half years alone. Therefore, it's no surprise SoundHound AI stock soared higher when Nvidia revealed it bought a position in early 2024, and shares went on to hit an all-time high of around $24 in late 2024.But Nvidia stunned investors when it released its 13-F filing with the Securities and Exchange Commission (SEC) on Feb. 14 this year. Its updated list of investments showed that SoundHound AI was no longer in the portfolio, suggesting the chip giant sold its entire stake toward the end of 2024. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool