Top Companies' AI Moves

Today's Stories

1. 1

   AbbVie taps Iambic AI models for drug discovery in multi-year deal

   AbbVie entered a multi-year collaboration with Iambic to apply the Enchant and NeuralPLexer AI models to small-molecule drug discovery in immunology, neuroscience, and oncology, with Iambic receiving an upfront payment plus milestone and royalty payments. The deal suggests AbbVie is betting that AI models can help find small-molecule drug candidates in its core therapeutic areas, though the financial terms beyond the upfront payment are not disclosed.

   Whether the collaboration produces candidates that advance to clinical trials will hinge on how well Iambic's models perform on AbbVie's targets. Separately, Telix Pharmaceuticals is acquiring ITM Isotope Technologies in a deal worth up to $2.35 billion.

2. 2

   Intel jumps 10% as AI spending fears ease, Melius starts Buy

   Intel shares jumped about 10% on Monday, as Melius Research initiated a Buy rating, Tigress Financial raised its price target, and reports said SK Hynix is exploring a manufacturing arrangement involving Intel's Ohio facility. The rally suggests investors are reassessing fears that AI infrastructure spending could slow, with the broader chip sector advancing and Intel's turnaround efforts tied to AI servers and foundry expansion drawing attention.

   The move hinges on whether the SK Hynix arrangement materializes, since the body only says it is being explored; the stock's run also reflects sentiment that could shift with oil prices, Treasury yields, or AI spending signals.

3. 3

   Sandisk: $93.9 billion backlog as AI inference demand grows

   Sandisk customers are expanding multi-year commitments as inference requirements rise, strengthening the signal beyond its existing $93.9 billion backlog. Data center is now 38% of Sandisk's business and nearing half of NAND demand, leaving room for mix expansion, per the analysis.

   The test is whether High Bandwidth Flash adds 2027 AI optionality and Stargate QLC lands enterprise inference storage demand; the stock trades at 8.4x FY1 non-GAAP earnings versus Micron's 13.8x.

4. 4

   AbbVie, Iambic in multi-year AI drug discovery pact

   AbbVie and Iambic announced a multi-year collaboration to accelerate small molecule drug discovery across immunology, neuroscience and oncology, using Iambic's AI platform and Enchant v3, trained on over 6,000 molecular properties. AbbVie's discovery scientists get purpose-built AI tools intended to evaluate many candidate properties at once, which the companies say may improve success rates and shorten drug discovery timelines.

   The partners are targeting first-in-class and best-in-class molecules, so the test is whether simultaneous property optimization yields better candidates than traditional, one-property-at-a-time evaluation.

5. 5

   Morgan Stanley: SpaceX, Tesla share tech and talent

   Morgan Stanley's Adam Jonas said the two companies "share tech, talent, and infrastructure," citing 71 Tesla references in SpaceX's S-1, $506 million in 2025 Megapack buys, and the joint Macrohard AI agent platform. The note treats physical AI — applying AI to machines and real-world environments — as increasingly strategic for both companies, with SpaceX providing computing and satellite links while Tesla supplies robotics and energy storage.

   The 4.9 gigawatts of SpaceX computing capacity by end-2027 and 15.3 gigawatts by 2031 are estimates cited in the note, so the scale of the collaboration hinges on whether those buildouts proceed; watch Terafab's construction cost, reportedly estimated at more than $119 billion.

6. 6

   Dell books record $60.9 billion in AI-server orders

   Dell said it booked a record $60.9 billion in AI-server orders and $16.4 billion in AI-server revenues in the second quarter of fiscal 2027, exiting with a $95 billion backlog. The backlog suggests the AI-server demand Dell reported is not just booked but still waiting to be delivered, which points to revenue visibility beyond the quarter.

   Dell's AI-server revenue growth hinges on converting that backlog, while SMCI and CSCO are also chasing the same Neocloud and enterprise customers.