tl;dr
Amazon's (NASDAQ:AMZN) cloud computing unit and pharmaceutical major Amgen (NASDAQ:AMGN) are teaming up to leverage generative artificial intelligence (AI) for medicine discovery and development. At the AWS re:Invent annual cloud conference event, the expanded partnership between Amazon Web Servic...
Amazon's (NASDAQ:AMZN) cloud computing unit and pharmaceutical major Amgen (NASDAQ:AMGN) are teaming up to leverage generative artificial intelligence (AI) for medicine discovery and development.
At the AWS re:Invent annual cloud conference event, the expanded partnership between Amazon Web Services (AWS) and Amgen (AMGN) was unveiled. Amgen will use AWS infrastructure and services to support its digital data and analytics platform at a new facility in Columbus, Ohio. With a strong drug pipeline and recent revenue growth to $6.9 billion, the potential of generative AI to accelerate innovation and efficiency in clinical trial planning and execution excites both companies. Generative AI and machine learning technology will also be explored for research and development, clinical trials, and operations and commercial business applications. This collaboration represents a strategic fusion of expertise in cloud computing, AI, and pharmaceuticals, with both companies making significant strides in these areas through innovative technology solutions.
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Amazon.com Inc is a leading American multinational technology company with a strong focus on e-commerce, cloud computing, digital streaming, and artificial intelligence. As one of the Big Five companies in the U.S. information technology industry, it holds a significant presence in the market. Its market capitalization stands at $1.526 trillion, with a current stock price of $3,335.55. Over the past year, the stock has shown a 1.91% increase, indicating a steady growth trajectory. With a Relative Strength Index (RSI) of 53.95, the stock is currently trading in a neutral range. The company has also shown resilience in the face of market volatility, with a beta of 0.0362, suggesting relatively low sensitivity to market fluctuations. Overall, Amazon.com Inc presents a strong market sentiment, backed by its solid financials and consistent performance.
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