Tempus AI Inc. TEM, a pioneering healthcare diagnostics company, continues its impressive ascent, reaching a new peak of $47.81 on Thursday.
Since its IPO in June, the stock has surged by 17.27%, starting at $37 per share. Evidently, Tempus has maintained a robust growth trajectory, bolstered by a series of strategic maneuvers.
Over the past five days alone, Tempus has experienced a remarkable 25% increase, largely fueled by a significant investment injection from SoftBank Group Corp SFTBF SFTBY.
SoftBank’s recent 13F filing unveils their strategic move to add Tempus AI to their investment portfolio, acquiring approximately 5.41 million shares valued around $189 million.
In addition to SoftBank, technology titan Google has also thrown its support behind Tempus AI, amplifying the buoyant sentiment surrounding the company.
This robust backing from SoftBank, coupled with their increased stake in AI leader Nvidia Corp NVDA, illustrates the firm’s bullish outlook on the AI industry.
Read Also: Tempus Could Gain Share In AI Health Care Market Poised To Grow By Over 30%
Positive Momentum: Tempus Ascending
Technically, Tempus AI’s stock exhibits strong bullish signals, with its share price comfortably exceeding key moving averages—the eight-day SMA at $42.02 and the 20-day SMA at $41.51. This positioning hints at a sustained upward trajectory.
Chart created using Benzinga Pro
Despite the absence of data for the 50-day and 200-day SMAs due to its recent market debut, the overall positivity surrounding Tempus AI remains unwavering.
Investors are clearly enthusiastic about Tempus AI’s potential, not least due to the substantial support from industry heavyweights like Google and SoftBank.
As the company forges ahead with its innovative AI-powered healthcare solutions, its stock is likely to remain a highly sought-after asset on the Nasdaq, attracting investors keen on riding the wave of the AI revolution.
The pressing question now is whether Tempus AI can maintain its current momentum and continue to chart new territories in the rapidly evolving tech realm.
Read Next: