Thermo Fisher Scientific announces strategic collaboration with OpenAI📱

Key takeaways

Thermo Fisher Scientific (TMO.US) shares are up about 4% in premarket trading today following the announcement of a strategic collaboration with OpenAI.
This is yet another example of a company outside the traditional technology sector announcing a partnership with OpenAI in an effort to be seen by investors as a beneficiary of the AI revolution.

Key takeaways

Thermo Fisher Scientific (TMO.US) shares are up about 4% in premarket trading today following the announcement of a strategic collaboration with OpenAI.
This is yet another example of a company outside the traditional technology sector announcing a partnership with OpenAI in an effort to be seen by investors as a beneficiary of the AI revolution.

Thermo Fisher Scientific (TMO.US) shares are up about 4% in premarket trading today following the announcement of a strategic collaboration with OpenAI. The company is implementing artificial intelligence solutions in key areas of its business, from clinical research and customer service to the Accelerator™ Drug Development platform and internal ChatGPT Enterprise implementations, with the aim of reducing the time to market for new drugs, managing innovation more effectively, and making better use of resources.

This is another example of a company outside the traditional technology sector announcing a partnership with OpenAI in an effort to be seen by investors as a beneficiary of the AI revolution that is driving the valuations of giants such as Nvidia, Microsoft, and Alphabet. The market clearly rewards any attempts to implement AI-based solutions: there is an automatic narrative about the possibility of repeating the success of technology companies whose shares have been gaining for months thanks to the AI boom. Hence today's positive reaction to TMO's stock price – investors see an opportunity for other sectors to jump on the fast-moving AI technology bandwagon, seeking to replicate the success of companies that have been key beneficiaries of this transformation for some time.

Just before the opening of Wall Street, the company's shares are up 4% and testing the recent local highs from October.

Source: xStation

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