Nvidia-backed SoundHound AI wants to reach 'all' brands: CEO
SoundHound AI (SOUN) shares nosedived after the company, backed by chip giant Nvidia (NVDA), reported quarterly results beating analysts' estimates but showing declining margins. SoundHound AI Co-Founder and CEO Keyvan Mohajer joins Market Domination hosts Julie Hyman and Josh Lipton to discuss the company's products — which offers its AI-powered voice platform to enterprise customers — earnings results, and growing customer base. Mohajer tells Yahoo Finance that the company "had a great quarter," passing the $25 million revenue mark for the first time and delivering a beat and raise. SoundHound narrowed its expected losses for the quarter to $0.04 per share. He says that SoundHound AI's gross margin was affected by "short-term temporary impacts" like acquisition costs that "should improve over time." The CEO says customers from different industries are using its tech: "We spent more than ten years just in R&D [research and development] to build our own AI models and voice recognition in dozens of languages. And then we started monetizing it. First, we were very big in automotive, and then we went to AI customer service, and our vision was always to diversify." He adds that is expanding beyond just the autos and restaurant industries, with the goal of being in "all the enterprise brands." This includes ventures into spaces like healthcare, insurance, financials, governments, and retail. "Some of that has been organic growth, and some of it has been through our acquisitions," Mohajer says. While some executives, like IBM (IBM) CEO Arvind Krishna, say that AI is poised to replace human workers, Mohajer argues "there's going to be a disruption, but I think it's going to be net positive," explaining that while some jobs may be replaced, others will be created as AI integration boosts productivity. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This post was written by Naomi Buchanan.
![The former Chairman and CEO of CNN Worldwide, Chris Licht, told Yahoo Finance during Tuesday's Yahoo Invest that cable is experiencing a similar death as radio. MoffettNathanson senior analyst Robert Fishman joins Julie Hyman and Josh Lipton to discuss the future of TV. Fishman says from an advertising standpoint, linear TV "is going to continue to come under significant pressure going forward as the eyeballs continue to shift to the connected TV and streaming landscape." However, as far as the distribution goes and figuring out where the pay-TV floor is, "we are [becoming] increasingly worried about where that floor really is as a lot of the sports rights continue to go over the top." Several streamers have pushed into live sports to drive consumers to their streaming services and bundled offerings. As far as what to expect from the media space in the longer term, Fishman says, "all paths lead back to streaming [as that's] where this industry is going." Watch the video above for more on the analyst's expectations for Disney (DIS) earnings, his outlook for media consolidation, and his Netflix (NFLX) valuation. For former Chairman and CEO of CNN Worldwide Chris Licht's full interview with Yahoo Finance Anchor Seana Smith at the Yahoo Finance Invest conference, click here. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Naomi Buchanan.](https://cdn.statically.io/img/s.yimg.com/uu/api/res/1.2/HNVfrBVCMHTST1UVpyD1ng--~B/Zmk9c3RyaW07aD0zNjQ7cT04MDt3PTQ2ODthcHBpZD15dGFjaHlvbg--/https://s.yimg.com/os/creatr-uploaded-images/2024-11/c6747880-a206-11ef-8ffb-316305e373bd.cf.webp)
