Advanced Micro Devices (AMD) Invests in Drug-Discovery Company Absci in Push to Sell AI Chips

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Advanced Micro Devices is investing $20 million in Absci, a drug-discovery company based in Washington state, in a move aimed at selling its artificial intelligence chips in the healthcare sector. The deal is structured as a private investment in a public equity and includes an equity stake in Absci. AMD didn’t disclose the amount of its stake.

AMD, which is based in Santa Clara, Calif., said the investment and partnership between the two companies will help reduce hardware costs and optimize AI solutions for Absci. The move is AMD’s first attempt to gain footing in life sciences with its AI chips, a space also targeted by its rival Nvidia.