SoundHound AI is a company that builds cutting-edge AI technology for voice and audio. To launch voice AI to smart cars, it teamed up with Tencent at a time, a substantially Chinese tech company. This technology will make voice requests for navigation and other functions achievable for drivers.
It aims to make driving more engaging, safer, and easier. SoundHound's stock price increased by almost 9% despite the announcement, demonstrating high investor interest. The agreement could promote the company's reputation and global growth, although it did not reveal earnings details.
SoundHound AI Gains Attention
Investors were delighted to learn about SoundHound AI, a company that creates next-generation audio equipment, on Tuesday. They were overjoyed about the company's future and pushed its share price up by approximately 9% in late-session trading, mainly due to news of a deal with a well-recognized Asian company.
That was more than enough to exceed the benchmark S&P 500 index, which at the time had disclosed a 2.4% growth. According to our analyst team, the ten greatest stocks to purchase at this time were just published.
In-car AI
The Chinese tech giant Tencent has teamed up with SoundHound AI, a company that builds artificial intelligence (AI) solutions for voice and typical audio, as the name recommends.
Tencent Intelligent Mobility will get SoundHound AI's AI voice technology for the in-car driving assistance process as part of the deal. These solutions are the concentrate of the latter Tencent Company.
According to the business, this project will "provide dynamic, specific user experiences to automotive players across geographies that are searching to deliver end users with seamless handsfree access to a range of in-vehicle applications."
According to a statement from SoundHound AI, its AI software lets users pose in-depth requests and receive prompt, accurate, and informative responses. Drivers searching for assistance with various facets of navigation and other in-car services may find this especially helpful.
Revenue Terms Still Unknown
The press release revealing the deal did not include any data regarding SoundHound AI's funding plans. Without an idea of how much money the company stands to make from the project, it is not possible to assess the prospective impact on its basic knowledge.
Nevertheless, a partnership with an established tech company will help its activities, not least because of the greater recognition resulting from an effective collaboration.
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