In 2024, Palantir Technologies has become one of the brightest stars in the stock market. As of now, its stock price has risen by about 275%. Such amazing returns naturally attract numerous investors and prompt many to search for the next "Palantir", especially in the current hot field of artificial intelligence (AI). Recently, SoundHound AI has been considered as one of the stocks with similar potential. So, is it really possible for SoundHound AI to become the next Palantir?
From the company name itself, SoundHound AI's core business is closely related to "sound". The company has developed an AI-based voice recognition technology that can convert voice input into data formats usable by AI. This technology has been applied in multiple fields, such as fast-food chain drive-thrus, in-car voice assistants, and banking services.
This is just the beginning, one can imagine, accurate voice input has a great demand in various application scenarios of AI models, which has brought tremendous growth opportunities for SoundHound AI's business. In the third quarter of 2024, SoundHound AI achieved $25 million in revenue, an 89% year-on-year growth. Although compared to Palantir's $0.725 billion...