The growth of generative artificial intelligence (AI) platforms like OpenAI's ChatGPT has led to a surge in buying AI stocks. Companies like Nvidia and Microsoft, which are involved in AI, have seen significant gains. Some lesser-known AI players went public through special purpose acquisition companies (SPACs) but failed to meet expectations, causing their stocks to plummet. Two struggling SPAC-backed companies are BigBear. ai and SoundHound AI. BigBear. ai develops data mining and analytics tools, while SoundHound AI specializes in audio and speech recognition tools. Both companies missed their pre-merger targets and face challenges in their respective industries. BigBear. ai's revenue growth and profitability have been below expectations. The company's new CEO is focused on cost-cutting measures and expanding its ecosystem through acquisitions.

While BigBear. ai expects improved performance in the near-term, there are concerns about its ability to grow organically in the long run. SoundHound AI also failed to meet its projected revenue growth, blaming it on a challenging macro environment and competition from tech giants. The company is reducing its workforce and doesn't expect positive adjusted EBITDA until 2025. Although its revenue is expected to rise this year, its business model's sustainability is still uncertain. If forced to choose between the two, SoundHound AI could be the better option due to its faster organic growth, wider moat, and higher gross margin. However, investing in either company is speculative, and caution is advised. The Motley Fool, a popular financial advice website, does not recommend investing in BigBear. ai. The platform named other stocks that it believes have better potential for investors. Please note that this is a summary of the original text and some details may have been omitted.