SoundHound AI: Driving Future Conversations with Voice Technology

SoundHound AI Stock Forecast: Could Surge 70% in the Next Year

This company's exciting technology is protected by more than 100 patents. Artificial intelligence (AI) stocks have skyrocketed in recent months, thanks to their potential to transform so many industries. There could be a lot of winners, including companies selling AI tools or using these tools to make their businesses more efficient. Investors who buy shares of these players could score a win, too.

Even though many of these AI players have increased in the double and triple digits, some still may have plenty of room to run. We're in the early days of the AI story, so an AI company that's just ramping up its technology and signing on customers, for example, could see its stock climb as revenue starts to take off.

SoundHound's voice technology

SoundHound creates the technology powering some of our daily conversations, such as placing an order at a restaurant or interacting vocally with our cars. Today, the voice-AI specialist operates mainly in the areas of restaurants and automobiles, but the market opportunity is broad, and SoundHound aims to address areas such as financial, healthcare, and retail industries in the coming years. All of that offers SoundHound a total addressable market of more than $160 billion by 2026.

A solid order backlog

Today, SoundHound's revenue is on the rise, and the backlog of orders is strong. In the most recent quarter, revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) each climbed 80%. And the subscriptions and orders backlog of $661 million is up by 2x from the same period a year ago.

• Fast translation of speech to meaning
• Support for complex conversations
• Revenue generation through product placement and services