AMD Invests $20 Million in Absci to Accelerate AI-Driven Drug Discovery
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AMD invests $20M in AI-powered drug discovery company Absci - SiliconANGLE
Advanced Micro Devices Inc. today announced that it has invested $20 million in Absci Corp., a company using artificial intelligence to develop new medicines. AMD will also partner with the company to support its research efforts. Absci launched in 2011 to develop proteins with therapeutic
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AMD invests $20 million in AI drug discovery firm Absci By Investing.com
VANCOUVER, Wash. - Absci Corporation (NASDAQ: ABSI), a generative AI drug creation company with a market capitalization of $353 million, announced a strategic collaboration with Advanced Micro Devices, Inc. (NASDAQ:AMD) involving a $20 million equity investment aimed at enhancing AI-powered drug
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AMD Invests in Absci to Accelerate AI-Driven Drug Discovery
Absci and AMD will present AI solutions at the 43rd Annual J P Morgan Healthcare Conference. Generative AI drug creation company Absci Corporation announced on Wednesday a strategic collaboration with AMD to enhance its AI-driven drug discovery capabilities. Through this partnership, Absci will
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Absci Corporation and Amd Announce Collaboration and Strategic Investment to Accelerate the Future of Ai Drug Discovery
Absci Corporation announced a strategic collaboration with AMD to deploy AMD Instinct?? accelerators and ROCm?? software to power critical AI drug discovery workloads, including Absci's advanced de novo antibody design models. AMD will also make a $20 million investment in Absci, structured as a
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AMD to invest $20m in Absci, powering its AI drug discovery
The role of AI in drug discovery is expected to reach a $7.9bn valuation by 2030. The US-based generative AI drug creation company Absci Corporation has announced a collaboration with semiconductor giant Advanced Micro Devices (AMD), employing AMD's technology to power Absci's critical AI drug
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AMD invests $20 million in Absci to expand AI chip sales in healthcare sector- WSJ By Investing.com
Investing.com -- Advanced Micro Devices (NASDAQ:AMD) is set to invest $20 million in Absci, a Washington-based drug-discovery firm, aiming to increase the use of its artificial intelligence (AI) chips in the healthcare sector, according to Wall Street Journal. The investment is structured as a
[7]
Absci Stock Jumps As AMD Invests $20M To Boost AI Drug Discovery - Advanced Micro Devices (NASDAQ:AMD), Absci (NASDAQ:ABSI)
AMD collaborates with Absci for AI drug discovery advancements. AI drug creation company Absci Corporation ABSI shares are trading higher in premarket on Wednesday after the company entered into a strategic collaboration with Advanced Micro Devices Inc AMD to enhance its AI drug discovery
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Absci stock soars on AMD partnership and investment By Investing.com
Investing.com -- Shares of Absci Corporation (NASDAQ: ABSI) soared 50% following the announcement of a strategic collaboration and a $20 million investment from AMD (NASDAQ:AMD). The partnership aims to enhance Absci's AI-driven drug discovery capabilities using AMD's Instinct accelerators and ROCm
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AMD announces a $20 million investment and strategic partnership with Absci, an AI-powered drug discovery company, to enhance AI capabilities in pharmaceutical research using AMD's high-performance computing solutions.
AMD's Strategic Investment in AI-Driven Drug Discovery
Advanced Micro Devices (AMD) has announced a $20 million investment in Absci Corporation, a generative AI drug creation company, marking a significant move in the intersection of artificial intelligence and pharmaceutical research
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. This strategic partnership aims to accelerate AI-driven drug discovery by leveraging AMD's high-performance computing solutions.The Collaboration: Enhancing AI Capabilities in Drug Discovery
The collaboration between AMD and Absci involves the deployment of AMD Instinct accelerators and ROCm software to power Absci's critical AI drug discovery workloads, including advanced de novo antibody design models
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. This partnership is expected to provide optimized AI solutions for complex biological modeling, offering exceptional performance, reduced infrastructure costs, and faster innovation cycles4
.Absci's AI-Powered Drug Discovery Platform
Absci, founded in 2011, has evolved from a protein development company to a leader in AI-driven drug discovery
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. The company operates a 77,000-square-foot lab where it generates training data for clinical AI models designed to identify epitopes, crucial components in the drug development process1
. Absci's AI can generate millions of protein designs and automatically filter them based on their potential as medicines1
.AMD's Technology Contribution
AMD's involvement goes beyond financial investment. The company will provide its Instinct line of AI processors, including the newest chip, the Instinct MI325X, which promises 30% higher inference performance than Nvidia's H100 graphics card
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. Additionally, AMD's ROCm software will be utilized to enhance the efficiency of running AI models on its processors1
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.Market Impact and Future Prospects
The collaboration reflects the growing demand for AI applications in the biopharma sector. The global AI drug discovery market, valued at $3.5 billion in 2023, is expected to reach nearly $8 billion by 2030
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. This partnership is anticipated to expand biopharma adoption of AMD's Instinct accelerators and ROCm software3
.Related Stories
Absci's Financial Position and Recent Developments
Absci, with a market capitalization of $353 million, maintains a strong liquidity position with a current ratio of 5.63
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. The company has recently made significant progress in its research and development efforts, including advancements in its clinical candidate portfolio for treatments such as ABS-101 and ABS-201 for inflammatory bowel diseases and androgenic alopecia, respectively2
.Industry Reactions and Analyst Perspectives
The partnership has garnered positive reactions from industry analysts. H.C. Wainwright has maintained a Buy rating on Absci shares, highlighting the company's progress in its pipeline
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. Jones Trading also initiated coverage with a Buy rating, emphasizing Absci's unique AI-driven platform and success in securing pharmaceutical deals2
.As the role of AI in drug discovery continues to expand, collaborations like this between technology providers and biotech companies are likely to become more common, potentially revolutionizing the speed and efficiency of drug development processes.
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