Tempus AI Inc (NASDAQ:TEM) shares are surging Wednesday after the company announced a multi-year collaboration with AstraZeneca PLC (NASDAQ:AZN) and Pathos AI.

What To Know: Tempus AI announced a multi-year, strategic collaboration with AstraZeneca and Pathos to build a multimodal foundation model in oncology.

The model, which will be built using Tempus’ de-identified oncology data, is expected to be used for the collection of biological and clinical insights, the discovery of novel drug targets and the development of therapeutics for the oncology community as a whole.

The agreement with AstraZeneca expands on the strategic partnership between the two companies. Tempus said the collaboration includes $200 million in data licensing and model development fees.

“Generative AI and the emergence of large multimodal models is the final catalyst needed to usher in precision medicine in oncology at scale,” said Eric Lefkofsky, founder and CEO of Tempus AI.

“Tempus has spent the last decade investing billions of dollars into collecting the necessary data needed for a foundation model of this kind to take shape. We look forward to working with AstraZeneca and Pathos to apply AI-enabled solutions to advance therapies in an effort to help patients live longer and healthier lives.”

Tempus AI shares have seen a rise in popularity among retail investors this year ever since former House Speaker Nancy Pelosi disclosed a position in the company. A regulatory filling from January showed that Pelosi purchased 50 call options in Tempus AI on Jan. 14. The calls have a strike price of $20 and don't expire until Jan. 16, 2026.

See Also: Nancy Pelosi Called US-China Trade ‘A Job Loser:’ Old Remarks Reemerge Amid Trump Tariff Push

How To Buy TEM Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Tempus AI's case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

TEM Price Action: Tempus AI shares were up 16.5% at $50.37 at the time of publication Wednesday. The AI stock is up approximately 46% year-to-date, according to Benzinga Pro.

Photo: Piotr Swat/Shutterstock.