SoundHound AI CEO: Next breakthrough in AI models will be through architectural innovation

Summary

SoundHound AI CEO Keyvan Mohajer joins Fast Money to discuss record Q2 results, the growing demand for AI agents, and the company's competitive advantages. He highlights a $1 trillion market opportunity for enterprise agentic AI by 2030, driven by OASIS platform wins across automotive, restaurants, healthcare, and banks. The company's proprietary models and on-premise deployment differentiate it on data security, while the pending LivePerson acquisition is expected to close by year-end, prompting updated guidance.

• Record Q2 revenue of $62 million, up 10x since NASDAQ listing four years ago.
• OASIS platform driving enterprise wins in automotive, restaurants, healthcare, and top banks.
• CEO predicts every business will eventually adopt an AI agent, similar to websites and mobile apps.
• Enterprise agentic AI market forecast to reach $1 trillion by 2030.
• SoundHound owns foundational speech and language models that run on-premise, addressing data security concerns.
• The company has completed five acquisitions in 2.5 years, turning declining assets to growth.
• LivePerson, the largest acquisition and a public company, is expected to close before end of year, after which guidance will be updated.
• AI agents have been shown to increase customer revenue, not just reduce costs.