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Tempus AI Inc. (NASDAQ:TEM), a cutting-edge healthcare diagnostics company, has been on a tear. The stock established a new high of $47.81 on Thursday.
The stock is up 17.27% since its IPO in June. The company, which went public at $37 per share, and has been riding a wave of momentum ever since.
Over the past five days, Tempus is up about 25% — a spike largely attributed to a strategic investment from SoftBank Group Corp (OTCPK: SFTBF) (OTCBF: SFTBY).
According to SoftBank's second-quarter 13F filing, the investment giant added Tempus AI to its portfolio, acquiring approximately 5.41 million shares (worth approx. $189 million).
Google also backs Tempus AI.
This move, alongside SoftBank's increased stake in AI heavyweight Nvidia Corp (NASDAQ:NVDA), underscores the firm's bullish stance on the AI sector.
Read Also: Tempus Could Gain Share In AI Health Care Market Poised To Grow By Over 30%
From a technical perspective, Tempus AI's stock is showing strong bullish signals.
Chart crated using Benzinga Pro
With its share price well above key moving averages—the eight-day SMA at $42.02 and the 20-day SMA at $41.51—the stock is positioned for continued upward momentum.
The lack of data for the 50-day and 200-day SMAs, given the stock's recent market entry, doesn't detract from the overall positive sentiment.
Investors are clearly responding to Tempus AI's potential, especially with the backing of heavyweights like Google and SoftBank.
As the company continues to innovate and expand its AI-driven healthcare solutions, its stock could remain a hot ticket on the Nasdaq, appealing to those looking to capitalize on the AI revolution.
The big question now is whether Tempus AI can sustain this momentum and continue to break new ground in the fast-evolving tech landscape.
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