Nvidia calls Fugatto, short for Foundational Generative Audio Transformer Opus 1, a "Swiss Army knife for sound" as it jumps into the AI music space.

Nvidia says its new AI music editor can create “sounds never heard before” — like a trumpet that meows. The tool, called Fugatto, is capable of generating music, sounds, and speech using text and audio inputs it’s never been trained on.

Graphics and AI giant NVIDIA has announced a new AI model called Fugatto (short for Foundational Generative Audio Transformer Opus 1). Developed by an international team of researchers. It is being billed as "the world’s most flexible sound machine" taking on ElevenLabs and AI music maker Suno in one hit.

Rafael Valle, a key researcher behind Fugatto and NVIDIA's Manager of Applied Audio Research, said their goal was to create an AI model capable of understanding and generating sounds like humans. The company has detailed a few potential real-world applications of this tech.

Nvidia’s Fugatto is designed for ‘film or audio productions,’ but it can also create the sound of a saxophone howling like a dog.

At this point, anyone who has been following AI research is long familiar with generative models that can synthesize speech or melodic music from nothing but text prompting. Nvidia's newly revealed "Fugatto" model looks to go a step further,

Nvidia, known for its sophisticated computer chips, is doubling down on its artificial intelligence offerings, developing a new generative AI audio model that can “produce sounds never heard before.” The new AI model is called Fugatto,

CNBC's Deidre Bosa joins 'The Exchange' with the latest details about Nvidia.