12 Best Small Cap AI Stocks To Buy According to Hedge Funds

Page 2 of 11

10. SoundHound AI Inc. (NASDAQ:SOUN)

Market Cap as of December 2: $4.07 billion

Number of Hedge Fund Holders: 11

SoundHound AI Inc. (NASDAQ:SOUN) is a leading voice AI company that empowers businesses to create exceptional conversational experiences. Its suite of products, including voice assistant platforms, natural language understanding, and speech recognition technologies, caters to a diverse range of industries such as automotive, television, IoT, and customer service.

One notable example of its impact is the company’s Amelia AI Agents. These advanced AI-powered virtual assistants have successfully processed over 100,000 customer calls for Apivia Courtage, a prominent French insurance broker, by November of this year. By automating routine tasks and providing efficient customer support, Amelia AI Agents have reduced the workload of human agents by ~20%, freeing them to focus on more complex issues. This has significantly improved both efficiency and customer satisfaction.

The company’s strategic focus on AI has fueled impressive growth, as evidenced by an 89.13% year-over-year revenue increase in Q3 2024, driven by the rising popularity of voice-based interactions and the increasing demand for AI-powered customer service solutions. As SoundHound AI Inc. (NASDAQ:SOUN) continues to innovate and push the boundaries of AI technology, it is well-positioned to drive future growth.

Page 2 of 11