SoundHound AI CEO talks Nvidia's $3.7 million investment
TLDRNVIDIA has invested $3.7 million in SoundHound AI, a company specializing in voice and conversational AI technology. This investment has led to SoundHound's shares more than doubling in February. The CEO of SoundHound AI discusses the long-term value creation and the recognition the company has received. The collaboration between NVIDIA, which builds AI infrastructure, and SoundHound AI, which utilizes this infrastructure, is highlighted. The CEO also addresses concerns about a significant increase in trading volume prior to the investment announcement, suggesting it was due to market speculation rather than insider trading. SoundHound AI's applications in customer service, such as automated ordering systems in fast food chains and voice-activated commands in homes and vehicles, are mentioned. The CEO believes that AI customer service will become as essential as Wi-Fi and electricity for businesses, and that people will increasingly prefer interacting with devices over humans.
Takeaways
- 📈 NVIDIA has invested $3.7 million in SoundHound AI, which has led to a significant increase in SoundHound's share value.
- 🤝 The partnership between NVIDIA and SoundHound AI has been built over years, with NVIDIA providing the AI infrastructure that SoundHound utilizes for its voice and conversational AI technology.
- 💡 SoundHound AI's CEO emphasizes long-term value creation and acknowledges the recognition they have received from the investment.
- 🚫 The CEO was unable to comment on financial details due to a quiet period for the public company.
- 📊 SoundHound AI has experienced sustained growth over the last four years, which the CEO considers 'amazing and incredible'.
- 🔎 There was a dramatic increase in trading volume prior to the announcement of NVIDIA's investment, raising potential concerns about insider trading.
- 🧐 The CEO dismissed concerns over the trading volume spike, comparing it to the experiences of other AI companies not in NVIDIA's portfolio.
- 🙅♂️ The CEO stated that there has been no contact with the Securities and Exchange Commission regarding the trading volume spike.
- 📞 SoundHound AI's technology is used in customer service, including automated ordering systems in restaurants like Dunkin' Donuts and Jersey Mike's.
- 🏠 The technology also enables users to control appliances and cars through voice commands in their homes and vehicles.
- 🌟 The CEO predicts that AI customer service will become as essential as Wi-Fi and electricity for businesses, and that people will prefer talking to devices over other people in the future.
Q & A
What is the significance of NVIDIA's $3.7 million investment in SoundHound AI?
-The investment signifies NVIDIA's recognition of SoundHound AI's potential and the value of their voice AI and conversational AI technology. It also indicates a strategic partnership where SoundHound AI can leverage NVIDIA's AI infrastructure to enhance their services.
How does the CEO of SoundHound AI feel about the company's stock performance?
-The CEO acknowledges the stock's performance and appreciates the recognition that SoundHound AI deserves. However, he emphasizes a focus on long-term value creation for the company.
What is the background of the partnership between NVIDIA and SoundHound AI?
-The two companies have known each other for years. NVIDIA is known for building the foundation and infrastructure for AI, while SoundHound AI is utilizing that infrastructure to develop their voice AI technology.
How does the CEO respond to the question about the trading volume spike before the announcement of NVIDIA's investment?
-The CEO does not express concern over the trading volume spike, suggesting it is more set for speculation and noting that other AI companies not in NVIDIA's portfolio experienced similar increases in trading volume.
Has there been any contact with the Securities and Exchange Commission regarding the trading volume spike?
-No contact has been made or received from the Securities and Exchange Commission regarding the matter.
What are the two main areas of application for SoundHound AI's technology?
-SoundHound AI's technology is primarily applied in customer service and in enabling voice-activated commands in various devices, such as those found in the automotive and home appliance industries.
How does SoundHound AI's technology work in the context of customer service?
-The technology allows for automated ordering systems that recognize voice commands, enabling customers to place orders at establishments like Dunkin' Donuts or Krispy Kreme using voice recognition.
What is the CEO's vision for the future of AI customer service?
-The CEO envisions AI customer service to become as essential as Wi-Fi and electricity for businesses, suggesting that it will be a standard utility that businesses will sign up for.
What is the second prediction the CEO makes about the future of AI?
-The CEO predicts that people will prefer talking to devices rather than other people, indicating a shift towards more interaction with AI-powered systems.
How does SoundHound AI address the common issue of voice recognition systems not understanding commands correctly?
-SoundHound AI has improved the quality of their voice recognition technology, ensuring that it works effectively when used, leading to a preference for voice commands among users.
What is the CEO's personal anecdote about the adoption of voice AI technology?
-The CEO mentions that his three-year-old daughter knows how to speak to and interact with devices like refrigerators and dishwashers, highlighting the increasing normalization of voice AI in everyday life.
Outlines
📈 NVIDIA's Impact on SOUNDHOUND A.I. Share Prices
The video discusses NVIDIA's upcoming A.I. event on March 19th, which typically influences a positive stock movement. Christina, presumably a financial analyst, thanks the interviewee and introduces the topic of NVIDIA's $3.7 million investment in SOUNDHOUND A.I., which has led to a significant increase in SOUNDHOUND's share prices. The CEO of SOUNDHOUND A.I. is shown expressing satisfaction with the recognition, and the conversation delves into the long-term value creation for the company. The CEO explains that NVIDIA has been a known entity for years, focusing on building A.I. infrastructure, which SOUNDHOUND utilizes effectively with its voice and conversational A.I. technology. Despite the substantial investment, the CEO remains tight-lipped about financial specifics due to a quiet period, but highlights the company's sustained growth over the past four years. The video also touches on a potential increase in trading volume prior to the announcement of NVIDIA's investment, which could raise concerns with the Securities and Exchange Commission (SEC), although the CEO dismisses these concerns by pointing out similar trading patterns in other A.I. companies not part of NVIDIA's portfolio.
Mindmap
Keywords
NVIDIA
SoundHound AI
Investment
Artificial Intelligence (AI)
Voice AI
Conversational AI
Customer Service
Trading Volume
Securities and Exchange Commission (SEC)
Automated Ordering
Smart Devices
Highlights
NVIDIA has invested $3.7 million in SoundHound AI, a significant stake that reflects their confidence in the company's technology and potential.
SoundHound AI's shares have more than doubled in the month of February, indicating a strong market response to their business performance and prospects.
The CEO of SoundHound AI emphasizes the company's focus on long-term value creation rather than short-term market fluctuations.
SoundHound AI and NVIDIA have a longstanding relationship, with NVIDIA providing the foundational AI infrastructure that SoundHound utilizes for its voice and conversational AI technologies.
The $3.7 million investment, while substantial, is considered a modest amount by the CEO, who highlights the company's impressive growth over the past four years.
SoundHound AI operates in the public domain and has been observing a quiet period, during which certain financial details cannot be disclosed.
The CEO dismisses concerns about a dramatic increase in trading volume prior to NVIDIA's investment announcement, attributing it to market speculation and similar trends in other AI companies.
SoundHound AI has not received any inquiries from the Securities and Exchange Commission regarding the trading volume spike.
The company's products are primarily focused on customer service, with applications in automated ordering systems for quick service restaurants and voice-activated controls for home and automotive appliances.
SoundHound AI aims to make AI customer service as essential as Wi-Fi and electricity for businesses, highlighting the potential ubiquity of their technology.
The CEO predicts a future where people prefer interacting with devices through voice commands rather than with other people, reflecting a shift towards voice AI technology.
Despite common frustrations with voice recognition accuracy, the CEO of SoundHound AI is confident in the significant improvements in voice AI technology and its user preference when it functions correctly.
The CEO uses the example of his three-year-old daughter's interaction with voice-activated devices to illustrate the natural and intuitive use of voice AI in everyday life.
SoundHound AI's technology is designed to recognize and respond accurately to complex voice commands, such as customized orders at quick service restaurants.
The investment from NVIDIA is seen as a strategic move that aligns with SoundHound AI's mission to leverage advanced AI infrastructure for creating innovative voice and conversational AI solutions.
The CEO's discussion suggests that SoundHound AI is well-positioned to benefit from the growing trend of voice AI technology in customer service and home automation.