SoundHound AI, an artificial intelligence recognition company focusing on the voice field, has reached an equity distribution agreement for the issuance of market shares.
The Zhitong Finance App learned that SoundHound AI (SOUN.US), an artificial intelligence recognition company focusing on the voice field, has reached an equity allocation agreement for the issuance of market shares. As part of this plan, voice artificial intelligence and voice recognition companies can irregularly issue and sell up to $150 million of Class A common stock, each with a face value of $0.0001. Stimulated by this news, investors seem to collectively sell SoundHound AI. On Wednesday, the stock price of SoundHound AI fell sharply by more than 12% before the US stock market.
According to information, Citigroup Global Markets, Barclays Capital, Wedbush Securities, Northland Securities, and Ladenburg Thalmann & Co. will act as sales managers or distribution plan leaders, and are entitled to a fixed commission of 2.5% of the total sales value of shares sold under the agreement.
According to the latest 13F disclosure report for the fourth quarter of 2023, Nvidia also revealed investments in cutting-edge artificial intelligence SoundHound, AI chip design leader Arm (ARM.US), autonomous truck manufacturer Tucson Future (TSPH.US), biotech company Recursion Pharmaceuticals (RXRX.US) focusing on AI pharmaceuticals, and medical imaging technology developer Nano-X Imaging (NNOX.US).
According to information, Nvidia first invested in SoundHound AI in 2017. At that time, Nvidia participated in a round of financing of 75 million dollars to help SoundHound AI develop in the international market. Since then, the chip giant has bought around 1.73 million shares worth around $3.67 million.
SoundHound AI - a leader in AI audio recognition and AI voice interaction
With the launch of ChatGPT, artificial intelligence technology plays an increasingly important role in every aspect of human society, and Nvidia strives to spend capital to help humans meet the full advent of the AI era, especially in the field of AI technology where global consumers interact on a daily basis.
According to public information, SoundHound AI's business includes cooperation with automobile manufacturers and TV vendors, and involves software connected to Internet devices, including cooperation with European automobile manufacturing giant Stellantis (STLA.US) and Hyundai (Hyundai) manufacturing plants in the US. The more important business is that SoundHound AI provides voice customer solutions based on artificial intelligence technology. Retailers such as Jersey Mike's and Krispy Kreme have integrated these AI software products into their stores, such as providing voice ordering systems for American restaurant chain giant Krispy Kreme.
One of SoundHound AI's best-known products is its music recognition application SoundHound, which can quickly identify and provide relevant music information by humming a user's song or entering some of the song's lyrics. In addition, as described above, SoundHound AI also focuses on developing AI-based speech recognition technology to provide AI technical support for smart speakers, voice assistants, and other voice-interactive Internet devices in cars.