Should You Buy SoundHound AI Stock After Its 64% Drop? This Recent Move by Nvidia Might Hold the Answer.
Nvidia (NASDAQ: NVDA) supplies the most powerful data center chips for developing artificial intelligence (AI) models. In fact, the company's valuation has soared by more than $2.2 trillion over the last two years because sales have been so strong.In late 2023, Nvidia started spreading some of its wealth by investing in a handful of smaller AI companies. One of them was SoundHound AI (NASDAQ: SOUN), which is a leading developer of conversational AI technologies. But when Nvidia released its latest form 13F detailing its stock holdings as of Dec. 31, SoundHound was notably missing. It turns out the chipmaker decided to sell its entire stake at the end of last year.SoundHound stock hit a new record high in December, but it has since plunged by more than 64%. Could this be a buying opportunity for investors, or is Nvidia's recent exit a sign to steer clear? Let's find out.Continue reading
Nvidia (NASDAQ: NVDA) supplies the most powerful data center chips for developing artificial intelligence (AI) models. In fact, the company's valuation has soared by more than $2.2 trillion over the last two years because sales have been so strong.
In late 2023, Nvidia started spreading some of its wealth by investing in a handful of smaller AI companies. One of them was SoundHound AI (NASDAQ: SOUN), which is a leading developer of conversational AI technologies. But when Nvidia released its latest form 13F detailing its stock holdings as of Dec. 31, SoundHound was notably missing. It turns out the chipmaker decided to sell its entire stake at the end of last year.
SoundHound stock hit a new record high in December, but it has since plunged by more than 64%. Could this be a buying opportunity for investors, or is Nvidia's recent exit a sign to steer clear? Let's find out.
