Better AI Stock: SoundHound AI vs. Snowflake
SoundHound AI (NASDAQ: SOUN) and Snowflake (NYSE: SNOW) represent different ways to invest in the growing artificial intelligence (AI) market. SoundHound develops AI-driven speech and audio recognition tools that can be customized for a wide range of industries. Snowflake's cloud-based data warehouses are used to collect and clean up data from fragmented computing platforms so they can be easily read by third-party analytics and AI apps.
The bulls initially embraced both stocks. SoundHound AI's stock started trading at $8.72 after it went public by merging with a special purpose acquisition company (SPAC) on April 28, 2022, and it soared to a record high of $14.98 about a week later. Snowflake went public at $120 per share via a traditional IPO on Sept. 16, 2020. Its stock more than doubled to $245 on the first trade and rallied to a record high of $401.89 in November 2021.
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Source Fool.com
