Nvidia Just Bought This Under-the-Radar Artificial Intelligence (AI) Stock. Should You Buy It, Too?
Nvidia (NASDAQ: NVDA) is the world's largest semiconductor company. It's worth a whopping $1.8 trillion, and over $1 trillion of that value was created in the last 12 months alone on the back of its next-generation data center chips designed to process artificial intelligence (AI) workloads.
Now, Nvidia is spreading some of its newfound wealth across other areas of the AI industry. It filed a form 13F with the Securities and Exchange Commission (SEC) last week, revealing the company held a number of investments in other AI companies.
SoundHound AI (NASDAQ: SOUN) is one of them, and its stock soared 67% on the day Nvidia's investment was revealed. The company is worth just shy of $1 billion as of this writing, but its voice-based AI technologies are incredibly innovative and have the potential to create substantially more value. Here's why investors might want to follow Nvidia's lead and buy SoundHound AI stock.
Source Fool.com
