AI voice takes another step! SoundHound Assistant launches Peugeot and Opel cars in multiple European countries, with stock prices soaring over 20%

Author: Li Dan

Source: Hard AI

Concept stocks related to artificial intelligence (AI) are heating up again. California-based company SoundHound AI, Inc. (SoundHound), specializing in voice AI and language recognition, has received positive news.

On Wednesday, July 10th, Eastern Time, SoundHound announced that its SoundHound Chat AI voice assistant, combined with ChatGPT, has been launched and put into production in 11 European markets including Austria, France, Germany, Italy, Spain, and the UK, for the Peugeot, Opel, and Vauxhall automotive brands. By the end of July, the service of this voice assistant will expand to 17 markets, offering 12 different language versions.

Following this news, SoundHound's stock price surged, with a gain of over 20% during midday trading in the U.S., potentially closing above $5.0 for the first time since May 31st.

Some netizens on social media commented on SoundHound's significant increase, stating that there were many bullish signals on Wednesday, and some believe that the stock is likely to break through the upward channel.

Among other AI concept stocks, Baidu rose nearly 3% at midday on Wednesday, Tesla rose nearly 2%, C3.ai, AMD, and Arm, which fell nearly 3% on Tuesday, rose by less than 1%.

Semiconductor stocks related to AI chips rose on Wednesday. The Philadelphia Semiconductor Index rose over 2% at midday, while Nvidia also rose over 2%. Nvidia's double long ETF rose over 4% at midday, while stocks like Micron Technology, Applied Materials, Qorvo, Teradyne, Microchip Technology, ASML, AMD, Taiwan Semiconductor ADR, Arm, and SiFive rose nearly 3%.

The news on Wednesday indicates that SoundHound's AI voice assistant has made further progress in the mainstream European automotive market.

According to SoundHound, in March of this year, DS Automobiles, a brand under Stellantis, became the world's first car manufacturer to fully integrate the SoundHound Chat AI voice assistant into production. SoundHound Chat AI incorporates the latest generative AI technology. The assistant is being launched with DS Automobiles' cars in 18 countries and regions, supporting 13 languages.

On Wednesday, SoundHound stated that Stellantis is expanding real-time production to Peugeot, Opel, and Vauxhall cars, fundamentally changing the driving experience in the cockpit through interactive knowledge discovery, real-time data, and easy in-car controlsUsers can ask detailed questions to the voice assistant in the car and have a continuous conversation, seamlessly interacting with external knowledge sources and the onboard control unit.

For example, users can ask questions like, "Which route from Paris to Bordeaux has the most beautiful scenery? What historical landmarks are along the way? How far am I from the first landmark? What is the weather like there now?" After receiving answers, users can give commands such as rolling down the car window, requesting navigation to that location, and finding the nearest electric vehicle charging station.

SoundHound stated that the introduction of SoundHound Chat AI to Peugeot, Opel, and Vauxhall car brands marks a new step towards innovating the in-car voice assistant. According to SoundHound's data, the usage of its voice assistant has increased sixfold, DS Automobiles has reported a 50% increase in interaction frequency, unmet requests have decreased by five times, and the Net Promoter Score based on consumer loyalty has increased by five times. This indicates a growing demand from drivers and manufacturers for sophisticated AI voice assistants