Shares of voice control innovator SoundHound AI (NASDAQ: SOUN) sprung to life in the spring of 2024, as artificial intelligence (AI) giant Nvidia (NASDAQ: NVDA) unveiled a rare investment in the stock. But the soaring jump didn't last. On July 1, SoundHound AI's stock price sits 56% below the peak of early March.

I see no reason to despair over SoundHound AI's recent price drop, though. If anything, it's a welcome price correction that gives growth investors a chance to pick up a few shares on the cheap.

SoundHound AI is all about voice AI and conversational intelligence technologies, which are becoming as crucial as having Wi-Fi at a coffee shop. Many companies are exploring this universe, but SoundHound AI started building a unique technology platform when smartphones still felt new and fresh. Its voice analysis relies on advanced AI tools, honed against billions of song identification and phone-menu interactions over the years.

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Source Fool.com