** Shares of AI biologics firm Absci Corp ABSI.O rise 30.6% to $4.01 premarket
** Co announces a strategic collaboration with Advanced Micro Devices AMD.O, where the chipmaker will invest $20 mln in co to power AI drug discovery
** The investment is structured as a private investment in public equity or PIPE financing
** The partnership will provide AI solutions and also help reduce infrastructure costs for ABSI
** ABSI will deploy AMD's AI chips to help in drug discovery which "will enable us to further the development of next-generation antibody therapeutics"- ABSI
** Absci previously struck a deal worth up to $247 mln with drugmaker AstraZeneca AZN.L to design an antibody to fight cancer
** Up to last close, ABSI had fallen 8.6% in the past 12 months
(Reporting by Sneha S K)
((Sneha.SK@thomsonreuters.com;))
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