Moderna Stock Jumps On Collaboration With OpenAI: What's Going On?

Moderna Inc MRNA shares are trading higher Wednesday after the company announced an ongoing collaboration with OpenAI.

What To Know: Moderna said the company and Microsoft Corp MSFT-backed OpenAI share a vision of AI’s transformative potential in the future of business and healthcare.

Moderna began a collaboration with OpenAI in early 2023 with the launch of Moderna’s own instance of ChatGPT, called mChat. The company announced Wednesday that it has reached more than 80% internal adoption of mChat, which has accelerated the AI culture at Moderna.

As a result of the company’s AI integration, Moderna has deployed ChatGPT Enterprise and its enhanced capabilities such as Advanced Analytics, Image Generation and GPTs, which are now embedded across Moderna’s business functions as purpose-built assistants working alongside Moderna employees.

“Just as the introduction of the personal computer in the 1980’s changed the way we work and live, AI is on a path to completely transform our everyday lives – and OpenAI is helping to lead the way. Both our companies have shared values and are research-driven organizations pushing the boundaries of technology to drive transformation,” said Stéphane Bancel, CEO of Moderna.

“Moderna has an ambitious plan to launch multiple products over the next few years, and collaborations with companies like OpenAI are critical to our ability to scale and maximize our impact on patients.”

Since adopting ChatGPT in recent months, Moderna said it has deployed more than 750 GPTs that have helped drive automation and productivity.

Moderna is set to report financial results for the first quarter on May 2. The company is expected to report a loss of $3.68 per share and revenue of $97.501 million, according to estimates from Benzinga Pro.

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MRNA Price Action: Moderna shares were up 3.9% at $112.10 at the time of publication, according to Benzinga Pro.

Photo: Lutsenko_Oleksandr from Shutterstock.