Meet the Newest Artificial Intelligence (AI) Stock in Nvidia's Portfolio (Hint: It's Not SoundHound AI)
When it comes to artificial intelligence (AI), there's Nvidia (NASDAQ: NVDA), and there's everyone else. The chipmaker has become the poster child for AI as its graphics processing units (GPUs) have become the gold standard for AI systems. So, when Nvidia makes an investment in anything AI-related, investors sit up and take notice.
That's what happened earlier this year with SoundHound AI. In February, investors learned that Nvidia had taken a small position in the voice and audio recognition specialist, which sent its shares skyward, gaining as much as 93% in the week following the revelation.
Now, history is repeating itself. Last month, Nvidia revealed it had acquired a somewhat sizable stake in Serve Robotics (NASDAQ: SERV), which sent the stock into the stratosphere. Let's take a look at what enticed Nvidia to invest in the company and if it makes sense for investors.
Source Fool.com
