Prediction: Buying This Nvidia-Backed Artificial Intelligence (AI) Data Center Stock Now Could Be Like Catching SoundHound AI in 2024

What if I told you one of the top-performing artificial intelligence (AI) stocks last year wasn't a member of the "Magnificent Seven"? Maybe you'd think I'm talking about Palantir Technologies -- 2024's top-performing S&P 500 stock, with a 340% return. Well, I'm actually talking about a much different company, and one that's still far from having the scale of those big tech players.In 2024, shares of voice-recognition software developer SoundHound AI gained 836%. Perhaps the biggest driving factor behind that meteoric rise could be attributed to the company's connection to Nvidia.In early 2024, a 13F filing from Nvidia revealed that the chipmaker had an equity stake in SoundHound AI. Unsurprisingly, investors rushed to open positions in the stock.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool