SoundHound AI CEO talks Nvidia's $3.7 million investment
TLDRThe CEO of SoundHound AI discusses the company's recent $3.7 million investment from Nvidia, which has led to a significant increase in SoundHound's shares. The CEO emphasizes the company's focus on long-term value creation and their use of Nvidia's AI infrastructure to enhance their voice and conversational AI technology. The discussion also touches on the potential increase in trading volume prior to the announcement, which could raise concerns with regulatory bodies. SoundHound AI's applications are highlighted, including automated customer service in establishments like Dunkin' Donuts and voice-activated control in vehicles and homes. The CEO is optimistic about the future of AI, predicting that AI customer service will become as essential as Wi-Fi and electricity, and that people will increasingly prefer interacting with devices over other humans.
Takeaways
- 📈 NVIDIA has invested $3.7 million in SoundHound AI, which has led to a significant increase in SoundHound's share value.
- 🤝 SoundHound AI and NVIDIA have had a long-standing relationship, with NVIDIA providing the AI infrastructure that SoundHound utilizes for its voice and conversational AI technologies.
- 💡 SoundHound AI's CEO emphasizes the company's focus on long-term value creation and acknowledges the recognition they have received from the investment.
- 🚫 The CEO could not comment on financial matters due to a quiet period, but highlighted the company's sustained growth over the past four years.
- 🔍 There was a dramatic increase in trading volume for SoundHound's stock prior to the announcement of NVIDIA's investment, which could potentially attract regulatory scrutiny.
- 🧐 The CEO dismissed concerns about the trading volume spike, suggesting it was more speculation and noting similar experiences with other AI companies not in NVIDIA's portfolio.
- 👮 No contact has been reported between the Securities and Exchange Commission and SoundHound regarding the trading volume spike.
- 📱 SoundHound AI's technology is used in customer service, such as automated ordering systems at fast-food chains, and in home and automotive applications for controlling devices with voice commands.
- 🌟 The CEO predicts that AI customer service will become as essential for businesses as Wi-Fi and electricity, and that people will prefer interacting with devices over other people in the future.
- 🧐 The CEO acknowledges the common frustration with voice recognition systems not understanding commands correctly, but asserts that the quality has improved significantly.
- 👧 The CEO shares a personal anecdote about their three-year-old daughter being able to communicate with devices, illustrating the growing ease and adoption of voice technology.
Q & A
What is the significance of NVIDIA's $3.7 million investment in SoundHound A.I.?
-The investment signifies NVIDIA's recognition of SoundHound A.I.'s potential and the synergy between their AI infrastructure and SoundHound's voice and conversational AI technology. It also led to a significant increase in SoundHound's share value.
How does SoundHound A.I. utilize NVIDIA's AI infrastructure?
-SoundHound A.I. leverages NVIDIA's infrastructure to enhance its voice and conversational AI technology, which is then applied in various sectors such as customer service and smart home devices.
What was the CEO of SoundHound A.I.'s reaction to the investment and the share price increase?
-The CEO expressed that while they are focused on long-term value creation, it is right to have the recognition that they deserve. The share price increase was seen as a positive sign but the CEO emphasized their focus on sustainable growth.
How did the collaboration between NVIDIA and SoundHound A.I. come about?
-The collaboration has been a result of a relationship built over years. NVIDIA, known for building AI infrastructure, found a valuable application of their technology in SoundHound's voice and conversational AI systems.
What is the CEO's stance on the increased trading volume prior to the announcement of NVIDIA's investment?
-The CEO did not express any concern regarding the increased trading volume, suggesting it was more a result of speculation and noting that other AI companies experienced similar trading activity.
Has there been any contact with the Securities and Exchange Commission regarding the trading volume spike?
-No contact has been reported between the CEO and the Securities and Exchange Commission regarding the spike in trading volume.
What are the two main areas of application for SoundHound A.I.'s technology?
-SoundHound A.I.'s technology is primarily applied in customer service through automated ordering systems in establishments like Dunkin' Donuts and in smart home and automotive systems that respond to voice commands.
How does SoundHound A.I.'s technology differ from other voice-activated systems like Siri or Alexa?
-SoundHound A.I. focuses on providing higher quality and more accurate voice recognition, which leads to a better user experience and preference for voice interactions when the technology works effectively.
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 a future where talking to devices becomes more common than interacting with people.
What is the CEO's response to concerns about voice recognition systems not understanding commands correctly?
-The CEO acknowledges the past issues but asserts that the quality of voice recognition has significantly improved, and people are more inclined to use voice commands when they work accurately.
How does SoundHound A.I. plan to use the $3.7 million investment to strengthen its business?
-While the CEO did not provide specific details due to a quiet period, they mentioned that the company has experienced incredible growth over the last four years, indicating a strategic use of funds to continue this growth trajectory.
What is the potential impact of NVIDIA's investment on SoundHound A.I.'s public image and credibility?
-The investment from a renowned chip giant like NVIDIA enhances SoundHound A.I.'s credibility and public image, showcasing their technology as a valuable and recognized player in the AI industry.
Outlines
📈 NVIDIA's Impact on SoundHound A.I.'s Stock Performance
The video discusses NVIDIA's upcoming event on March 19th, which typically influences a positive stock movement. Christina thanks the speaker and inquires about NVIDIA's investment strategy, highlighting their recent $3.7 million stake in SoundHound A.I., which has led to a significant increase in SoundHound's shares. The CEO of SoundHound A.I. expresses satisfaction with the recognition, explaining that NVIDIA has been a known entity for years and that their AI infrastructure complements SoundHound's voice and conversational AI technology. The CEO also addresses the financial growth over the past four years and the quiet period that prevents further comment. The conversation touches on the increased trading volume prior to the announcement of NVIDIA's investment, which could raise concerns with the Securities and Exchange Commission, but the CEO dismisses it as speculation and compares it to other AI companies not in NVIDIA's portfolio. The video concludes with a brief mention of SoundHound's products, focusing on customer service through voice recognition in various settings like food chains and home appliances.
Mindmap
Keywords
💡NVIDIA
💡SoundHound AI
💡Investment
💡Artificial Intelligence (AI)
💡Voice AI
💡Conversational AI
💡Customer Service
💡Trading Volume
💡Securities and Exchange Commission (SEC)
💡Infrastructure
💡Public Company
Highlights
Nvidia has invested $3.7 million in SoundHound AI, a company specializing in voice AI and conversational AI technology.
SoundHound AI's shares have more than doubled in the month of February.
The CEO of SoundHound AI emphasizes the company's focus on long-term value creation.
Nvidia is building the foundation and infrastructure for AI, which SoundHound utilizes in its technology.
SoundHound AI has experienced incredible growth over the last four years.
There was a dramatic increase in trading volume for SoundHound AI's stock prior to the announcement of Nvidia's investment.
The CEO downplays concerns about the trading volume spike, comparing it to the behavior of other AI companies not in Nvidia's portfolio.
SoundHound AI's technology is used in customer service, such as automated ordering systems at Dunkin' Donuts, Krispy Kreme, and Jersey Mike's.
The technology also enables voice commands for home appliances and car systems.
The CEO predicts AI customer service will become as essential as Wi-Fi and electricity for businesses.
SoundHound AI aims to improve voice recognition accuracy, with the CEO noting that people prefer voice interactions when they work well.
The CEO mentions that even his three-year-old daughter knows how to interact with voice-activated devices.
SoundHound AI's technology is designed to understand and process complex voice commands more effectively than current solutions.
The company is in a quiet period and cannot comment on many financial details.
The CEO does not confirm any contact with the Securities and Exchange Commission regarding the trading volume spike.
Nvidia's AI event on March 19th is anticipated to positively impact its shares.
The interview discusses the potential for increased speculation and investment in AI companies.
SoundHound AI is positioning itself as a key player in the future of voice and conversational AI.