Here's My Top AI Stock to Buy in August

Let's be honest. After the stunning launch of OpenAI's ChatGPT in late 2022, the generative artificial intelligence (AI) industry has been more hype than substance. While hardware makers like Nvidia or Advanced Micro Devices have made tons of money selling the chips needed to run and train these complex algorithms, there have been conspicuously fewer profits on the consumer-facing software side of the opportunity. SoundHound AI (NASDAQ: SOUN) could help change this dynamic with its industry-leading AI voice and speech recognition software, which is already attracting real-world use cases. Here's how this growth story could unfold over the next five years and beyond. Founded in 2005 and going public through a special purpose acquisition company (SPAC) merger in 2022, SoundHound AI was in the right place at the right time to capitalize on AI-related hype. Before going public, it developed several audio-technology products, including in-car music and speech recognition software. Now, it can combine these platforms with large language models (LLMs) to create more value for consumers.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool