SOUNDHOUND AI INC Stock Price, News & Analysis

SoundHound AI, Inc. (NASDAQ: SOUN) announced it will release its 2023 first quarter financial results on May 11, 2023, at 5:30 p.m. ET. The company will hold a conference call and webcast to discuss these results, featuring Co-Founder and CEO Keyvan Mohajer and CFO Nitesh Sharan. A live webcast will be accessible via the company’s investor relations website, and a replay will be available for 90 days afterward. SoundHound is recognized for its conversational intelligence and proprietary technologies, serving notable clients like Hyundai and Mercedes-Benz. This announcement highlights SoundHound's ongoing commitment to transparency with investors.

SoundHound AI, Inc. (NASDAQ: SOUN) has launched the SoundHound Chat AI for Automotive, marking a significant innovation in in-vehicle voice assistants. This platform integrates Generative AI like ChatGPT with advanced voice technology, providing users with access to real-time information on navigation, weather, and more. Key findings from a recent survey reveal that 50% of drivers are likely to utilize a voice assistant with Generative AI, with 75% of frequent users showing similar interest. The technology aims to reduce AI hallucinations, thereby enhancing reliability. CEO Keyvan Mohajer emphasizes the company’s capability to deliver this transformative technology to OEMs. The innovative service is expected to set a new standard in automotive voice interaction.

SoundHound AI (SOUN) has secured a new $125 million loan facility from Atlas Credit Partners, with $100 million fully funded at closing. This financing will allow SoundHound AI to refinance a $30 million debt, extending maturity to 2027 and reducing cash outflows. The agreement strengthens the company's balance sheet, providing capital for innovation and growth. SoundHound aims to expand its subscription and licensing businesses, targeting a $332 million bookings backlog as of December 31, 2022. The new financing is minimally dilutive, positioning SoundHound AI for long-term success amidst potential market uncertainties and enabling further advancements in voice AI technology.

SoundHound AI (NASDAQ: SOUN) has launched its SoundHound Chat AI platform, merging sophisticated voice AI with Generative AI models, including ChatGPT. This innovative platform enables businesses to create enhanced voice interactions, reducing the chances of AI hallucinations.

The SoundHound Chat AI app is now available for subscription on the Android Google Play Store and will soon be offered on the iOS App Store. Leveraging proprietary technologies, SoundHound Chat AI can integrate various Generative AI models, providing users with fast, accurate responses across different topics.