Google-backed healthcare AI company, Tempus AI, recently held its IPO and saw its shares soar. The company, founded in 2015 by Eric Lefkofsky, uses AI to provide personalized diagnostics for patients, with the goal of improving therapies and accelerating the development of new treatments.
Google’s financial relationship with Tempus dates back to 2020, with Tempus raising significant funding from Google. The company has seen impressive growth, with a 183% increase in revenue between 2002 and 2023. Despite being unprofitable, Tempus has a strong customer base, including partnerships with major biopharmaceutical companies and widespread adoption among physicians and medical centers in the US.
While the company’s shares could be volatile, with it not yet profitable, Tempus sees a large addressable market for its products and believes its AI applications for diagnosis have significant potential. With the continued growth of AI in healthcare, Tempus AI looks like a promising investment for aggressive investors.
Overall, with an experienced management team and strong financial backing from Google, Tempus AI has the potential to be a significant player in the AI healthcare industry moving forward.
Article Source
https://www.fool.com/investing/2024/06/19/google-invested-artificial-intelligence-ai-stock/
