Why Ginkgo Bioworks Stock Was a 34% Winner This Week
Next-generation biotech Ginkgo Bioworks Holdings (NYSE: DNA) was one of the star stocks in its sector this week. According to data compiled by S&P Global Market Intelligence, the company's share price raced nearly 34% higher over the five market sessions. Two newly announced partnerships were a key reason, particularly the one involving artificial intelligence (AI).
It's not only the fact that the one tie-up covers AI; it's also the company Ginkgo is teaming with. On Tuesday, the biotech announced that it has begun a strategic cloud and AI partnership with 's Google Cloud unit.
The term of the Ginkgo/Alphabet deal is five years, under which Ginkgo will develop large language models running on its partner's Vertex AI platform. Google Cloud, meanwhile, is to be its primary provider of cloud computing services.
Source Fool.com
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