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SoftBank chairman and CEO Masayoshi Son, center, shakes hands with Tempus AI COO Ryan Fukushima, left, as Tempus AI CEO Eric Lefkofsky appears on a monitor during a news conference in Tokyo, Japan, on June 27, 2024.
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Tempus AI shares had their best day on record on Tuesday after the company launched an AI-powered health concierge.
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The stock also got a boost from former House Speaker Nancy Pelosi, who disclosed a stake in the company in a stock trading disclosure on Tuesday.
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Some analysts expect software companies like Tempus to be big beneficiaries of AI this year as they introduce AI agents – digital assistants with more autonomy than chatbots.
Tempus AI (TEM) stock had its best day ever on Tuesday after the medical technology company launched an AI-powered health concierge and former House Speaker Nancy Pelosi revealed she was betting on the stock.
Tempus on Tuesday morning launched olivia, “an AI-enabled personal health concierge app designed to empower patients by bringing their health-related data into one central location and leveraging advanced AI to deliver actionable insights. “
The app, according to a press release, can integrate with Apple Watch and Google Fit to track a user's day-to-day health, summarize their clinical history, and transcribe doctors' appointments. Tempus CEO Eric Lefkofsky emphasized olivia “goes beyond organizing information; it is a “proactive partner” for patients who drive their health and care.
Tempus shares jumped 35.5% on Tuesday, the biggest one-day jump since the stock closed in June.
The market's reaction to olivia could reflect a changing AI narrative on Wall Street. Since 2022, the Magnificent Seven and other companies essential to building AI infrastructure have been the main beneficiaries of the AI crash. In November, Goldman Sachs analysts predicted an AI revolution enter “Step 3” this year, when a wider variety of companies will see artificial intelligence contribute meaningfully to their top and bottom lines. They expect software companies in particular to benefit as they launch AI agents like olivia – digital assistants capable of more autonomy than chatbots like ChatGPT.
Tempus stock also got a boost from a routine stock trading disclosure by former Speaker of the House Nancy Pelosi, who bought 50 call options on January 14 expiring January 2026 with a price strike from $20. Tempus stock closed just under $32 on Pelosi's trading day, and on Tuesday it closed at $47.64.
Pelosi, whose husband owns a venture capital firm, is one of Washington's most prolific merchants. An ETF tracking the investments of Congressional Democrats in 2023 was launched with the ticker “NANC,” a nod to Pelosi's reputation.
Pelosi's disclosure on Tuesday revealed that she also bought call options for Look (VST), shares of which rose 8% on Tuesday, as did cybersecurity firm Palo Alto Networks (WHEN), which grew by more than 3%. Pelosi's other investments included stakes in Alphabet (GOOG)(GOOGLE), Amazon (AMZN), and Nvidia (NVDA). He sold some of his stakes in Nvidia and Apple (AAPL) on the last day of 2024.
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