AI+ Telecom prompted voice AI stock SOUN to rise astronomially

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The stock price of $SoundHound AI Inc(SOUN)$, a voice software and voice AI company, has skyrocketed more than 46% on Monday, and risen more than 197% in the past month.

The reason for the surge lies in the formation of the AI-RAN Alliance between $NVIDIA Corp(NVDA)$ and other heavyweight hardware and software companies, as well as the expansion of its collaboration with $ServiceNow(NOW)$ in telecom technology.

The telecom industry is closely related to the development of the AI industry, and the integration of the two is a topic that has been continuously discussed in the industry. The telecom industry is actively embracing the wave of generative AI to achieve various business goals.

There has been a significant increase in interest in the use of AI in the industry, and expectations for success using this technology are also rising, especially among industry executives.

SoundHound applies its technology to multiple fields such as hardware devices, services, automobiles, and mobile applications, providing users with conversational intelligence-based solutions. Although both pieces of news on Monday did not mention SoundHound, they serve as a significant and positive catalyst for the company's voice assistant business.

The AI Telecom Alliance has ignited Wall Street's enthusiasm

At Mobile World Congress (MWC), NVIDIA, along with $ARM Holdings Ltd(ARM)$, $Microsoft(MSFT)$ $Amazon.com(AMZN)$ $Softbank Group Corp(SFTBY)$ $Samsung Electronics Co., Ltd.(SSNLF)$ $LM Ericsson Telephone(ERIC)$ and $Nokia Oyj(NOK)$, formed the AI-RAN Alliance, aiming to promote the development of AI technology and radio access networks (RAN) in the telecom industry.

Ronnie Vasishta, Senior Vice President of NVIDIA's Telecom Business, stated that the AI-RAN Alliance will unite industry-shaping companies from software to hardware, committed to realizing the promise of ubiquitous AI and 6G. Next-generation network technology may boost the development of AI and facilitate the adoption of SoundHound services.

In addition to the AI-RAN Alliance, NVIDIA also announced that it has deepened its collaboration with ServiceNow. Specifically, the two companies will launch generative AI solutions specifically targeted at the telecom industry. Position data disclosed by Nvidia last week showed that it had a stake in SoundHound AI. Before the disclosure, the voice assistant stock had a market capitalization of approximately $3.7 million, but the share price has since taken off like a rocket.

What lies ahead for SoundHound AI?

Last week, the company announced that its Iris voice assistant technology will soon enter full production and be integrated into vehicles made by $Stellantis NV(STLA)$ . SoundHound's voice assistant integrates OpenAI's ChatGPT technology and will be released alongside Stellantis' DS cars next month.

With the help of new AI, RAN, and 6G technologies, SoundHound's personal assistant capabilities will be significantly enhanced. In addition, various new application scenarios are also likely to emerge. Simply put, voice operating systems, as a key interface for AI technology, have become the focus of market attention.