SoundHound AI Joins Russell 2000® and Russell 3000® Indexes

SANTA CLARA, Calif.--(BUSINESS WIRE)-- SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice artificial intelligence, announced today that as part of the 2023 annual reconstitution of the Russell indexes, the company has been selected to be included in the Russell 2000^® and broad-market Russell 3000^® Indexes effective after the U.S. market closed on June 23, 2023.

“SoundHound’s inclusion in the Russell represents another significant milestone in our journey as a public company, significantly broadening our visibility and awareness among the investment community. It’s also indicative of our strength and deep expertise in voice AI, a technology that is rapidly changing the way we live and work,” said Keyvan Mohajer, CEO and Co-Founder of SoundHound. “We are also pleased to see a greater number of both passive and active ETFs including SoundHound in their equity baskets, further expanding our shareholder base.”

Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of April 28, 2023, ranking them by total market capitalization. Membership in the Russell 3000^® Index means automatic inclusion in the large-cap Russell 1000^® Index or small-cap Russell 2000^® Index as well as in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

About SoundHound AI

SoundHound AI (Nasdaq: SOUN), a global leader in conversational intelligence, offers voice AI solutions that let businesses offer incredible conversational experiences to their customers. Built on proprietary technology, SoundHound’s voice AI delivers best-in-class speed and accuracy in numerous languages to product creators across automotive, TV, and IoT, and to customer service industries via groundbreaking AI-driven products like Smart Answering, Smart Ordering, and Dynamic Interaction™, a real-time, multimodal customer service interface. Along with SoundHound Chat AI, a powerful voice assistant with integrated Generative AI, SoundHound powers millions of products and services, and processes billions of interactions each year for world class businesses. www.soundhound.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230626901217/en/

Investors:

Scott Smith

408-724-1498

IR@SoundHound.com

Media:

Fiona McEvoy

415-610-6590

PR@SoundHound.com

Source: SoundHound AI, Inc.