Advanced Micro Devices (AMD), a prominent player in the tech industry particularly known for its advancements in artificial intelligence (AI), has recently made a significant investment in AI drug discovery. The company has allocated $20 million to Absci Corporation, a firm focused on AI-driven drug creation, in a move designed to enhance AI capabilities within the pharmaceutical sector.
Located in Santa Clara, California, AMD aims to employ its cutting-edge Instinct accelerators and ROCm software technology in collaboration with Absci. This partnership intends to support Absci's sophisticated de novo antibody design models, illustrating the growing significance of AI technology in pharmaceuticals. AMD's investment aims to reduce hardware costs while optimising AI solutions for Absci, which has positioned itself as a key entity in innovative drug development.
As AMD steps up its competition with Nvidia, another giant in AI technologies, this investment marks a strategic move to establish a stronger foothold in drug-related AI applications—an area where Nvidia has yet to solidify its presence. While immediate reactions in the stock market have shown a modest response from AMD, Absci's stock saw a remarkable increase, rising by 44.3% to $4.46 during premarket trading and gaining an additional 6.34% within 24 hours to reach $3.27 after a price correction.
Mark Papermaster, AMD’s chief technology officer, indicated that this alliance with Absci is the first of multiple initiatives aimed at making AMD’s graphics processing units (GPUs) accessible to specific industries, starting with healthcare. “We’re now expanding our focus into vertical markets and prioritizing healthcare, where we can immediately have an impact on society,” Papermaster noted.
Sean McClain, the Founder and CEO of Absci, expressed enthusiasm for the partnership, stating, “At Absci, we are always looking for ways to push the boundaries of what’s possible in drug discovery. This partnership with AMD gives us the unique advantage of working closely with a partner that is deeply committed to supporting our needs while providing the most efficient, innovative AI solutions available.” He further emphasised the potential of AMD's high-performance computing to aid in the advancement of next-generation antibody therapeutics, positioning this collaboration as a pivotal step towards accelerating the future of drug discovery.
This investment not only highlights the critical role of AI in modern pharmaceutical development but also underscores the increasing trend towards collaboration between technology firms and pharmaceutical companies in the pursuit of innovation. The developments occurring as a result of this partnership could further influence business practices within the industry, shaping a future where AI plays an integral role in drug design and efficiency.
Source: Noah Wire Services