Why Tempus AI Stock Is Skyrocketing Today

Shares of Tempus AI (NASDAQ: TEM) were skyrocketing 16.5% higher as of 10:39 a.m. ET on Wednesday. The big gain came after the healthcare artificial intelligence (AI) company announced a multiyear partnership with  and Pathos AI to build a multimodal foundation model for cancer drug discovery and development.

Tempus AI has invested heavily over the last decade to create one of the world's largest libraries of multimodal data that can be used in developing precision medicines. The company's de-identified oncology data will be critical in building the foundation model that AstraZeneca hopes to use to accelerate its development of new cancer drugs and increase the chances of success in clinical testing for its candidates.

Tempus AI will receive $200 million in data licensing and model development fees from AstraZeneca. This amount almost exactly matches the amount of revenue the company generated in the fourth quarter of 2024.

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Source Fool.com