AMD to invest $20m in Absci to boost AI drug discovery tech

8 Jan 2025

Image: © Sundry Photography/Stock.adobe.com

The global AI drug discovery market is expected to reach a valuation of nearly $8bn by 2030.

US-based generative AI drug creation company Absci Corporation has announced a collaboration with semiconductor giant Advanced Micro Devices (AMD), employing AMD’s technology to power Absci’s critical AI drug discovery workload.

As part of the collaboration, AMD will make a $20m investment into Absci and deploy its Instinct accelerator and ROCm software to support’s Absci’s technology, including in the company’s de novo antibody design models – or models that create new antibodies.

AI has acquired a vital role in the drug discovery process, transforming the pharmaceutical industry by speeding up the process of genetic data analysis.

According to Fortune Business Insights, the global AI drug discovery market was valued at $3.5bn in 2023 and is expected to grow to nearly $8bn by 2030.

“At Absci, we are always looking for ways to push the boundaries of what’s possible in drug discovery,” said Sean McClain, the founder and CEO of Absci.

“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.

“AMD high-performance compute will enable us to further the development of next-generation antibody therapeutics, and we are excited about the potential that this partnership holds to accelerate the future of drug discovery.”

While Mark Papermaster, the executive vice-president and chief technology officer of AMD said: “We are proud to partner with Absci, a company at the forefront of AI-driven drug discovery, to help further accelerate breakthroughs in therapeutics and transform how biologic drugs are developed.”

Earlier last year, AMD announced plans to acquire the New Jersey-based ZT Systems for $4.9bn as it ramped up efforts to cement its position in the AI race. The company expects to complete the acquisition by mid-2025.

While just months earlier, the processing units manufacturer acquired Silo AI in a $665m deal. Silo, which claims to be the largest private AI lab in Europe, provides AI-driven solutions to help customers integrate emerging technology into their products.

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Suhasini Srinivasaragavan is a sci-tech reporter for Silicon Republic

editorial@siliconrepublic.com