20 Hidden Gem AI Stocks

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9. SoundHound AI, Inc. (NASDAQ:SOUN)

Number of Hedge Fund Holders: 15 

SoundHound AI, Inc. (NASDAQ:SOUN) develops independent voice artificial intelligence solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. The firm beat market estimates on earnings per share and revenue for the second quarter by $0.05 and $0.37 million respectively. Earlier this year, the in-vehicle voice assistant of the company with integrated ChatGPT capabilities was installed in vehicle brands owned by Stellantis in 11 European markets. These brands included Peugeot, Opel, and Vauxhall vehicles operating in Austria, France, Germany, Italy, Spain, and the UK.

Cantor Fitzgerald recently upgraded SoundHound AI, Inc. (NASDAQ:SOUN) stock to Overweight from Neutral with a price target of $7, up from $5. In a research note, the advisory noted that the Amelia acquisition would add financial services and healthcare customer exposure to SoundHound, and while the company would have entered these markets, it likely would have taken them several years to do so.

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