SoundHound Brings AI Voice Assistant To Another Stellantis Brand: What's Going On With The Stock?

SoundHound AI Inc (NASDAQ:SOUN) shares are bouncing around in early trading. The company on Thursday announced the successful integration of its generative AI voice assistant in vehicles made by a subsidiary of Stellantis N.V. (NYSE:STLA) across Europe.

What Happened: SoundHound announced Thursday morning that its voice assistant, SoundHound Chat AI, has been integrated in Lancia Ypsilon vehicles in Belgium, France, Germany, Italy, Portugal, Spain and The Netherlands.

Lancia customers will now be able to access generative AI-style responses in addition to other in-car voice assistant features. The company is the latest Stellantis brand to embrace SoundHound AI’s voice assistant. SoundHound also recently launched its AI assistant in Alfa Romeo, Citroën, Peugeot, Opel, and Vauxhall vehicles.

“We are thrilled to bring SoundHound Chat AI to Lancia vehicles and offer even more drivers and passengers a new level of convenience and connectivity,” said Michael Zagorsek, COO of SoundHound AI. 

“This expansion marks another important step in our mission to transform in-car experiences with cutting-edge, truly conversational voice technology that drivers love and automakers trust.”

SoundHound is expected to report earnings for the third quarter sometime in early November. According to estimates from Benzinga Pro, analysts are anticipating a loss of 7 cents per share and revenue of $23.02 million.

SoundHound shares have surged alongside several other AI-related names in 2024. The stock was up nearly 150% year-to-date at last check. SoundHound has been popular among retail investors ever since Nvidia reported investments in multiple companies in a 13-F filing earlier this year, disclosing a 1.73 million share stake in SoundHound.

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How To Buy SOUN Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in SoundHound AI's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

SOUN Price Action: SoundHound shares initially jumped about 4% at the open before pulling back. The stock was up 0.51% at $5.28 at the time of publication, according to Benzinga Pro.

Photo: Shutterstock.