Two Undervalued AI Shares Rally on Strong Quarterly Earnings

The recent earnings season has shone a spotlight on two compelling opportunities within the artificial intelligence investment landscape. While much attention focused on the sector’s heavyweight champion, two other significant AI shares have emerged as particularly attractive for investors paying attention to their actual financial performance and market positioning.

CoreWeave and SoundHound AI both released quarterly results in late February 2026, and the market’s reaction revealed intriguing dynamics about how these artificial intelligence stocks are being valued. Both companies demonstrated strong operational momentum that could reshape investor perception in the months ahead.

CoreWeave: AI Infrastructure Getting Serious About Capacity

CoreWeave stands out as a critical player in the AI infrastructure boom that’s transforming how enterprises access computing power. This neocloud provider operates dedicated data centers equipped with GPUs from companies like Nvidia, allowing customers to rent AI computing capacity without massive capital expenditures.

The company’s growth trajectory has been remarkable. It reported a staggering $56 billion revenue backlog at the end of Q3 2025, representing a 271% year-over-year increase. This isn’t just a vanity metric—it represents real customer commitments for AI compute services. Major companies including Meta Platforms, Microsoft, and OpenAI are among the clients driving this demand.

CoreWeave guided for $5 billion in 2025 revenue, with analysts projecting the figure could exceed $12 billion in 2026. The company’s recent $2 billion investment from Nvidia signals serious confidence in its expansion plans. This partnership targets 5 gigawatts of AI infrastructure capacity by 2030, with CoreWeave positioned to become an early adopter of Nvidia’s forthcoming Vera Rubin AI chips—which promise to reduce inference costs by 10x compared to current solutions.

The strength of its backlog conversion capability suggests that CoreWeave’s earnings could well surpass Wall Street expectations. For investors seeking exposure to AI infrastructure proliferation, this AI stock presents compelling mechanics for appreciation.

SoundHound AI: Voice Technology’s Moment of Recognition

SoundHound AI represents an entirely different angle on artificial intelligence investment, one that the market temporarily dismissed. The voice AI specialist watched its shares decline over 65% from October’s 52-week high, creating a valuation that now looks divorced from the company’s actual business momentum.

Trading at less than 20 times sales compared to 27 times sales at year-end 2025, SoundHound demonstrates significant valuation compression that may not be justified by fundamentals. The voice AI market continues accelerating as companies recognize the efficiency gains from automating customer interactions and extracting insights through AI-generated transcripts.

SoundHound’s customer base spans automotive, restaurants, healthcare, retail, and banking sectors. The company’s Amelia agentic platform is capturing momentum in what could become a $47.5 billion market by 2034—representing nearly 20x growth from today. The firm reported cumulative subscriptions and bookings backlog of $1.2 billion at year-end 2024, up 75% annually, indicating sustained revenue visibility extending multiple years into the future.

This backlog metric proved crucial to SoundHound’s impressive 2025 performance, and ongoing voice AI adoption suggests the figure could expand meaningfully in its latest reporting. For investors seeking underappreciated artificial intelligence stocks, SoundHound offers both established growth and emerging market opportunities through its agentic AI initiatives.

What Makes These AI Shares Worth Watching

Both companies represent different facets of the AI revolution—one addressing infrastructure bottlenecks, the other enabling natural human-machine interaction at scale. Their recent earnings demonstrate execution against meaningful market opportunities, yet both trade at valuations that suggest the investment community hasn’t fully appreciated their positioning.

CoreWeave’s infrastructure dominance and SoundHound’s market expansion in voice AI underscore why these artificial intelligence stocks merit consideration from investors focused on companies with real backlogs, proven customer traction, and paths to significant scale. The recent earnings season may have been just the beginning of revaluation for these overlooked AI shares.