13 Best AI Stocks to Buy Under $10

Page 6 of 12

7. SoundHound AI, Inc. (NASDAQ:SOUN)

Stock Price as of May 12: $8.98

Number of Hedge Fund Holders: 21

SoundHound AI, Inc. (NASDAQ:SOUN) is a software application company that develops voice artificial intelligence (AI) solutions to enable high-quality conversational experiences across the automotive, TV, and IoT sectors. It is one of the best AI stocks to buy as it continues strengthening its AI-powered solutions line. Consequently, the company has achieved an 84.6% revenue growth over the past 12 months, attracting a Buy rating from DA Davidson with a $10 price target.

SoundHound AI, Inc. (NASDAQ:SOUN) remains well-positioned to sustain the outstanding growth given the size of the conversational AI market, which could grow to more than $50 billion in annual revenue by 2030. In pursuit of value in the market, the company has already launched voice-enabled AI agents. It has also introduced Amelia 7.0, designed to enhance business operations with voice-enabled artificial intelligence agents.

Additionally, SoundHound AI, Inc. (NASDAQ:SOUN) is pursuing growth opportunities in China. It has already inked a strategic partnership with Chinese tech giant Tencent.  Consequently, working with Tencent’s Cloud and Smart Industries is essential to bring conversational AI capabilities to automotive solutions. The partnership should help validate SoundHound’s technology and unlock new revenue opportunities. 

Page 6 of 12