SOUN Stock Alert: SoundHound AI Launches in Vehicles Across Europe

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  • Speech recognition specialist SoundHound AI (SOUN) popped sharply higher on Wednesday.
  • Its voice AI system integrated with ChatGPT is now available in several vehicle brands.
  • SOUN stock is also blasting higher on the rising practicality of AI.
SOUN stock - SOUN Stock Alert: SoundHound AI Launches in Vehicles Across Europe

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Speech recognition specialist SoundHound AI (NASDAQ:SOUN) — which leverages artificial intelligence (AI) and natural language understanding to promote conversational experiences — saw its shares rise dramatically on Wednesday. A major development with automaker Stellantis (NYSE:STLA) helped invigorate sentiment in SOUN stock, which is on a remarkable run.

According to SoundHound’s press release, its Chat AI voice assistant (which is integrated with ChatGPT) is now online and in production under the Stellantis brands Peugeot, Opel and Vauxhall. Currently, the technology is available in 11 European markets, including Austria, France, Germany, Italy, Spain and the U.K. By the end of this month, coverage will extend to 17 markets in 12 languages.

In March of this year, SoundHound announced that Stellantis represented the world’s first auto manufacturer to implement production with a voice assistant system via the aforementioned Chat AI system. With the live production, SoundHound aims to revolutionize the “cockpit experience with interactive knowledge discovery, real-time data, and effortless in-vehicle controls.”

Customers within the target regions for the specified brands can now enjoy access to AI technology. For certain models that have already been released, Chat AI with the integrated ChatGPT functionality will be available on-demand and can be accessed over the air without the need for a service visit.

Boosted Practicality of AI Helps Drive the Case for SOUN Stock

While the news item itself contributed to the bulk of Wednesday’s big move in SOUN stock, the underlying theme of accelerated practicality also helped move the needle. As the press release stated, the launching of Chat AI will allow “hands-free voice control for a wide range of functions. Whether managing navigation, making calls, or accessing real-time information such as sports scores and weather updates, the voice assistant enhances the convenience and enjoyment of driving.”

Further, the deployment of large language models in combination with SoundHound’s voice recognition system enables substantive conversations between drivers and their machines. People can make multiple substantive inquiries, making the road trip or commute informative or even entertaining. Per the release, some of the questions drivers can ask include:

  • What’s the most scenic route from Paris to Bordeaux?
  • What are some historic attractions along the way?
  • What is the weather like there now?

Further, drivers can make commands, such as requesting navigation or finding the nearest available electric vehicle charging station. The latter point might even help with the range anxiety concern that has kept buyers from transitioning to EVs, adding even more fundamental value for SOUN stock.

SoundHound’s Good Year So Far

Since the start of the year, SoundHound has gained over 137% of equity value. With the performance, SOUN stock is rivaling that of Nvidia (NASDAQ:NVDA), adding to the overall intrigue.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.


Article printed from InvestorPlace Media, https://investorplace.com/2024/07/soun-stock-alert-soundhound-ai-launches-in-vehicles-across-europe/.

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