AMD (AMD.US) announced a new partnership and investment with startup Absci Corp (ABSI.US), with Absci stating that it has received a $20 million investment from AMD to advance its product line. Absci's stock price rose by 13% in the early hours of Wednesday.

Absci stated that the structure of this investment is a private investment in public equity, known as PIPE Trade. AMD will support Absci in using its chips and software to create better biologics for patients, reduce infrastructure costs, and accelerate innovation cycles. This marks AMD's first investment in the Medical Care sector.