Beyond Hardware: Why These 3 AI Software Companies Could Define 2026's Market

After years of riding the semiconductor wave, the real action might be shifting to AI software this year. Three companies are positioning themselves at the forefront of this transformation—each playing a critical role in how AI actually gets deployed.

SoundHound AI: Building the Voice-First AI Future

SoundHound AI (NASDAQ: SOUN) started as a voice recognition specialist, but it’s evolved into something more ambitious—a company betting on AI agents that understand human intent through conversation.

The numbers tell the story. Revenue doubled in the first nine months of 2025, with the company expanding its footprint across automobiles and restaurants. The Amelia acquisition was the real game-changer, bringing enterprise customer relationships in healthcare, financial services, and retail, plus the technology backbone for agentic AI workflows.

What makes SoundHound compelling is that voice becomes essential when AI agents need to understand nuance and intention. While others are chasing chatbots, SoundHound is building the sensory layer. Gross margins are improving, and management expects positive EBITDA soon—a milestone for any growth-stage software company.

Salesforce: The Data Trustee Moment

Here’s the plot twist: Salesforce (NYSE: CRM) was written off as an AI afterthought. Then everyone realized a crucial problem—AI models need clean, trustworthy data.

That’s exactly what Salesforce owns. It serves as the system of record for customer interactions across marketing, sales, and service for thousands of enterprises globally. The Informatica acquisition strengthens this moat even further, turning Salesforce into the data integration layer that enterprises need.

Its Agentforce AI agent platform is hitting faster than expected. Last quarter, ARR surged 330% to $540 million, driven by flexible pricing that lets customers pick seat-based or consumption models. The valuation reflects this: trading below 5.5x forward sales and around 20x forward earnings, with a PEG ratio under 0.65—metrics that suggest the market hasn’t fully priced in the AI opportunity yet.

Snowflake: The Hidden Data Infrastructure Play

Snowflake (NYSE: SNOW) operates the cloud data warehouse that companies use to store and access information across any cloud provider. Once data lands in Snowflake, it becomes sticky—companies struggle to extract it, which builds natural staying power.

Now the company is layering Snowflake Intelligence on top, letting enterprises build their own AI agents with secure data access. Over 1,200 customers are already using this feature, generating a $100 million AI revenue run rate.

The execution speaks for itself. Revenue jumped 29% last quarter with record new customer additions and a net revenue retention rate of 125% over 12 months—the hallmark of a company firing on all cylinders, not limping through a transition.

The Pattern

All three companies share something in common: they’re not fighting for AI dominance through raw compute or chips. Instead, they’re becoming infrastructure gatekeepers—voice understanding, data management, and enterprise integration. That’s how AI software typically wins long-term.