By Sabela Ojea
Shares of Absci on Wednesday jumped following a report on a $20 million investment from Advanced Micro Devices.
The stock was up 27% to $3.89 in pre-market trading. Through Tuesday's close, shares have fallen 25% over the past 12 months.
Advanced Micro Devices is making the investment in the Washington state-based drug-discovery company to sell its artificial intelligence chips in the healthcare sector, The Wall Street Journal reported.
The deal is structured as a private investment in a public equity and includes an equity stake in Absci, the Journal reported, adding that AMD didn't disclose the amount of its stake.
The move is AMD's first attempt to gain footing in life sciences with its AI chips, a space also targeted by its rival Nvidia.
In 2023, Nvidia invested $50 million to boost Recursion Pharmaceuticals' AI-based drug-discovery efforts and provided the underlying hardware for that work.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
January 08, 2025 07:36 ET (12:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。