Amazon To Continue Winning Streak, Analyst Predicts Revenue Surge Amid Booming AWS and Retail Sales
Truist analyst Youssef Squali reiterated a Buy rating on Amazon.Com Inc (NASDAQ:AMZN) with a price target of $195
Based on his tracking of a proxy for U.S. revenue growth and overall positive market trends, the analyst remained constructive on Amazon with two weeks to go in the quarter.
Backed by the Novo Nordisk Foundation, Eviden, a French computing company, is set to construct a supercomputer leveraging Nvidia Corp’s (NASDAQ:NVDA) AI technology.
Related:Weightloss Drugs Ozempic And Wegovy’s Success Sets Novo Nordisk’s Owner To Utilize Dividend Windfall For Strategic Investments.
Cédric Bourrasset, Eviden’s quantum computing chief, anticipates the supercomputer, dubbed Gefion, will revolutionize drug discovery and healthcare solutions, offering speed and efficiency.
Expected to commence pilot projects by year-end, Gefion will be stationed at Denmark’s newly established National Centre for AI Innovation and will provide researchers from Denmark’s public and private sectors access to an advanced supercomputer optimized for AI.
This venture enjoys the support of tech giants Nvidia, valued at a staggering $2.21 trillion, and Novo Nordisk, a pharmaceutical powerhouse boasting a market value surpassing even Tesla.
Leveraging Nvidia’s latest chip technology, Gefion is poised to redefine the landscape of scientific inquiry, particularly in drug development and disease management.
The Novo Nordisk Foundation’s strategic investment in this initiative underscores its commitment to advancing medical science. Bolstered by the success of Ozempic and Wegovy, the foundation aims to drive innovation further, capitalizing on AI’s potential to expedite breakthroughs.
Wegovy’s Success Spurs Novo Nordisk Foundation’s Philanthropic Initiative To Enhance Respiratory Disease Vaccines.
This vision aligns with recent advancements, such as MicrosoftCorp’s (NASDAQ:MSFT) collaboration with the Pacific Northwest National Laboratory, where AI facilitated the discovery of new battery materials within weeks, which traditionally took years.
Last month, Novo Holdings, the major shareholder of Novo Nordisk, said it plans to ramp up its annual investments to $7 billion by 2030.
The investment firm, which manages the assets of the Novo Nordisk Foundation, intends to increase its annual investments from $3 billion in 2023 to $7 billion by 2030.
Price Action: NVO shares are down 0.59% at $129.06 on the last check Friday.
Image By Natalia Varlei On Shutterstock
