Absci Stock Jumps As AMD Invests $20M To Boost AI Drug Discovery
AI drug creation company Absci Corporation (NASDAQ:ABSI) shares are trading higher in premarket on Wednesday after the company entered into a strategic collaboration with Advanced Micro Devices Inc (NASDAQ:AMD) to enhance its AI drug discovery capabilities.
AMD invests $20M in AI-powered drug discovery company Absci
Absci will use AMD’s $20 million investment to enhance its AI models. In parallel, the companies will collaborate to develop new hardware and software optimized for the healthcare sector. The effort will place particular emphasis on developing technologies that can advance drug discovery.
Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on AbSci (ABSI – Research Report) and keeping the price target at ...
Investors sell off AMD shares despite the company's pivot to life sciences AI, following a rating downgrade by HSBC that followed a six-month decline in the stock price.
Following HSBC downgrading of the semiconductor company's stock, Advanced Micro Devices ( AMD, Financials) shares fell over 5 ...
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