We recently published a list of 15 Trending AI Stocks on Latest News and Ratings. In this article, we are going to take a look at where SoundHound AI (NASDAQ:SOUN) stands against other trending AI stocks on latest news and ratings.
According to Anthropic CEO Dario Amodei, artificial intelligence models capable of performing at human levels may emerge as early as 2026. That is, if current advancements hold steady. Amodei compares the path to general artificial intelligence with educational stages. Currently, he notes that we’re starting to get to PhD level, while last year we were at the undergraduate level.
READ ALSO: 10 AI News Making Waves Today and 10 AI Stocks to Watch on Latest News and Analyst Ratings.
“If you just eyeball the rate at which these capabilities are increasing, it does make you think that we’ll get there by 2026 or 2027”.
– Anthropic CEO Dario Amodei
He also acknowledged that possible setbacks may exist, such as data shortages, limitations in scaling AI clusters, and potential geopolitical issues impacting microchip supply chains. Previously, OpenAI CEO Sam Altman made a similar claim, noting that artificial general intelligence can be achieved in five years with the current hardware. According to Altman, the benchmark would pose “surprisingly little” change to society.
Latest Developments in AI
How fast we can get to AGI is a debate of its own. In the meantime, let’s take a closer look at the latest developments and innovations shaping the world of artificial intelligence. In its first, a robot has been trained by watching videos of seasoned surgeons, performing the same surgical procedures skillfully as human doctors. The findings, led by Johns Hopkins University researchers, were illuminated at the Conference on Robot Learning in Munich, a top event for robotics and machine learning.
“It’s really magical to have this model and all we do is feed it camera input and it can predict the robotic movements needed for surgery. We believe this marks a significant step forward toward a new frontier in medical robotics.”
– Senior author Axel Krieger, an assistant professor in JHU’s Department of Mechanical Engineering.
In other news, CNBC’s David Faber reports that Elon Musk’s artificial intelligence company xAI is raising up to $6 billion at a $50 billion valuation. Musk’s AI startup seeks to “understand the true nature of the universe. Last year, xAI released a chatbot named Grok, modeled after “The Hitchhiker’s Guide to the Galaxy.” The chatbot aims to directly compete with companies including ChatGPT creator OpenAI.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A software engineer focused on a computer screen, writing code to create a conversational assistant.
SoundHound AI (NASDAQ:SOUN)
Market Capitalization: $2.28 billion
SoundHound AI (NASDAQ:SOUN) is a voice artificial intelligence company offering voice AI solutions to businesses. It boasts that more than 200 enterprise brands employ its AI agents across a growing number of verticals.
On November 13, Ladenburg downgraded SoundHound AI (NASDAQ:SOUN) to “Neutral” from Buy with a price target of $7. The company reported solid Q3 results, meeting expectations. Moreover, its acquisition of Amelia has helped the company move into new verticals and large enterprises. Even though the firm continues to view voice as a key early application for AI systems, the rating has moved to neutral because of short-term losses from the Amelia acquisition and rapid share price appreciation.
“Our downgrade is a function of a rapid share price gain, coupled with a model that shows significantly higher losses than our previous expectations. That said, we expect the company will grow into this valuation, and emerge stronger over time”.
– Mattson said in a client note.
Overall, SOUN ranks 14th on our list of trending AI stocks on latest news and ratings. While we acknowledge the potential of SOUN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SOUN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.