Nvidia-backed AI drug developer Iambic is raising $150 million in U.S. IPO

What happened: Iambic, a San Diego AI drug developer backed by Nvidia, is raising $150 million in a U.S. IPO. Its stock is expected to begin trading on Nasdaq Thursday under the ticker IAM, with the offering expected to close Friday. Key numbers: $150 million raise; ticker IAM; trading expected Thursday; offering expected to close Friday. Why it matters: The listing brings an Nvidia-backed AI drug developer to public markets, giving investors a way to trade the AI drug discovery segment on Nasdaq.

Nvidia-backed AI drug developer raising $150 million in U.S. IPO.

Nvidia-backed AI drug developer raising $150 million in U.S. IPO. — impact context not separately stored; see What changed.