SoundHound AI Rolls Out First ChatGPT-Enabled Voice Assistant in Japanese Vehicles
Portfolio Pulse from Anusuya Lahiri
SoundHound AI, Inc (NASDAQ:SOUN) announced the launch of its ChatGPT-integrated voice assistant in Japanese vehicles, marking a first in the automotive industry. This technology, named SoundHound Chat AI Automotive, will be featured in Stellantis NV's (NYSE:STLA) DS Automobiles in Japan starting April 2023. The assistant, Iris, enables hands-free operations like trip planning and accessing live parking information. SoundHound AI's technology, which also runs on Nvidia Corp's (NASDAQ:NVDA) DRIVE platform, aims to reduce 'AI hallucinations' for more accurate responses. The company's stock is accessible through Themes Generative Artificial Intelligence ETF (NASDAQ:WISE) and SPDR S&P Software & Services ETF (NYSE:XSW), and has seen a 178% increase over the last 12 months, despite a 2.94% drop to $5.96 recently.
March 25, 2024 | 5:03 pm
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Nvidia Corp's DRIVE platform powers SoundHound AI's in-vehicle voice assistant, showcasing Nvidia's continued influence in automotive AI technologies.
Nvidia's involvement in powering SoundHound AI's innovative voice assistant underscores its pivotal role in automotive AI, potentially boosting investor interest and positively impacting its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
SoundHound AI introduced a ChatGPT-integrated voice assistant in Japanese vehicles, marking a significant advancement in automotive AI. The stock has seen substantial growth but experienced a recent dip.
The introduction of a pioneering technology in the automotive industry, combined with a significant 12-month stock price increase, suggests strong market confidence in SoundHound AI's innovations. However, the recent price dip could be a short-term reaction to market conditions or profit-taking.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Stellantis NV's DS Automobiles in Japan will feature SoundHound's ChatGPT-integrated voice assistant, marking a significant partnership in the automotive industry.
The partnership with SoundHound AI to incorporate advanced AI technology into its vehicles could enhance Stellantis NV's competitive edge in the market, potentially boosting investor confidence and stock performance.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Themes Generative Artificial Intelligence ETF includes SoundHound AI stock, offering investors exposure to AI innovations in the automotive sector.
As SoundHound AI demonstrates significant advancements and stock growth in the AI automotive sector, ETFs like WISE that include SOUN stock could see increased investor interest and potential gains.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
SPDR S&P Software & Services ETF, which includes SoundHound AI stock, could benefit from the company's innovative AI technologies in the automotive industry.
With SoundHound AI's stock showing strong performance due to its automotive AI innovations, ETFs like XSW that hold SOUN stock may attract more investors, potentially boosting the ETF's performance.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 60