It was backed by the Japanese conglomerate SoftBank (OTC: SFTB.Y) and the retail giant Walmart (NYSE: WMT). It was poised to disrupt the manually operated and mechanized distribution methods of traditional fulfillment centers. Symbiotic's revenue rose 136% in fiscal 2022 (which ended in September 2022), and analysts expect its top line to grow at a compound annual growth rate (CAGR) of 61% from 2022 to 2025.
Symbiotic (NASDAQ: SYM) and SoundHound AI (NASDAQ: SOUN) represent two different ways to invest in the growing artificial intelligence (AI) market. Symbiotic develops AI-powered robots for automating large warehouses, while SoundHound develops speech recognition technologies for a wide range of industries.
Retail healthcare is a growing area of interest for many companies, as healthcare moves into the home and both retailers and traditional companies eye a piece of the nearly $4 trillion health industry pie.