American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

SoundHound CEO wants SOUN to be in ‘all the enterprise brands’

by admin November 30, 2024
November 30, 2024
SoundHound CEO wants SOUN to be in ‘all the enterprise brands’

SoundHound AI Inc (NASDAQ: SOUN) chief executive Keyvan Mohajer wants his company to be in “all the enterprise brands”.

The artificial intelligence enabled speech recognition company, he’s convinced, is poised to grow at a fast clip as it continues to diversify out of automotive and into retail, healthcare, finance, insurance, and even governments.

In fact, SOUN has already become the “AI leader in restaurants”, as per the CEO.

SoundHound stock is up another 18% today as investors continue to cheer its Amela AI Agents that have handled more than 100,000 customer calls for Apivia Courtage in 2024.  

The French wholesale broker has been able to improve productivity by a whopping 20% with the use of SOUN’s conversational AI agents this year.

SoundHound beats big-tech APIs

CEO Keyvan Mohajer sees AI gents for customer service as the “biggest near-term opportunity for generative artificial intelligence.”

He’s bullish on what the future holds for his company as it’s among the handful of names that have in-house speech recognition technology.

SOUN’s tech even beats big-tech APIs in terms of accuracy and speed, the chief executive revealed in a recent interview with Yahoo Finance.

Wall Street analysts share his optimism as evidenced in their consensus “overweight” rating on SoundHound stock.

Mohajer expects artificial intelligence to be a net positive – it will create more jobs as humans will remain in the driving seat, he argued.

“We used to work in farms and then the machines came and now we drive those machines. AI is the machine now. So, people are going to pilot the AI to do good things.”

SOUN to improve margins moving forward

SoundHound topped Street estimates in its latest reported quarter despite slight deterioration on the margin front.

Speaking with Yahoo Finance, the company’s chief executive attributed margin weakness to recent acquisitions, saying “they have their own clouds, we have our own. They use third-party APIs for AI models, we have our own AI model. So, there’s some duplicate costs.”

Such costs, he’s convinced, will eliminate and margins will improve over time.

SOUN narrowed its per-share loss to 4 cents as revenue soared 89% on a year-over-year basis to $25.1 million in Q3.

The AI enabled voice recognition company expects to achieve profitability in 2025.

SoundHound trimmed its reliance on a single segment and a single customer in the recently concluded quarter as well.

It drove only 25% of its business from automotive versus 90% last year.

The company’s largest customer contributed only 12% in Q3 versus 72% in the same quarter of 2023.

Wedbush Securities analysts currently see upside in SoundHound stock to $10 that translates to about a 10% upside on top of a 100% rally over the past two months.

The post SoundHound CEO wants SOUN to be in ‘all the enterprise brands’ appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Tesla’s 33% November surge drives tech rally, lifting dow, S&P 500, and Nasdaq
next post
Hedera Hashgraph price analysis as experts see HBAR hitting $1

Related Posts

American Airlines jet carrying 64 passengers collides with...

January 30, 2025

2 reason why the Nasdaq 100 and S&P...

January 27, 2025

IEP yields 38%: why is Carl Icahn’s stock...

September 11, 2024

Archer Aviation wins LA28 Olympics contract: is ACHR...

May 17, 2025

Why everyone is suddenly talking about Nvidia, the...

May 31, 2024

First Solar stock plunges 60%: is it at...

March 28, 2025

XRP price rallies as whale transactions surge past...

February 14, 2025

Nvidia CEO Jensen Huang’s net worth swells from...

May 28, 2024

Broadcom shares surge 10% after Q1-print: buy, sell...

March 8, 2025

US retail sales and manufacturing output decline in...

February 15, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025
    • Argentine senate deals blow to Milei’s austerity agenda with university budget boost

      August 25, 2025
    • Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

      August 25, 2025
    • At Jackson Hole, Fed Chair Powell signals possible cuts while warning of uncertainty

      August 25, 2025
    • Trump threatens to fire Fed Governor Lisa Cook amid mortgage fraud allegations

      August 25, 2025

    Categories

    • Business (3,763)
    • Investing (2,783)
    • Latest News (2,048)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved