What's Going On With Ginkgo Bioworks Stock This Week?

Ginkgo Bioworks Holdings Inc DNA shares continue to trade higher after rising nearly 10% on Tuesday. Here’s a look at what’s going on.

What To Know: Ginkgo Bioworks shares appear to be getting a boost Wednesday morning after the company announced the launch of Ginkgo Datapoints, which aims to make the training of AI models easier and more efficient.

Ginkgo said its Datapoints product can generate large biological datasets quickly at a competitive price per datapoint with a streamlined deal structure. Ginkgo Datapoints is expected to launch with several data generation products in the fall.

“The launch of Ginkgo Datapoints marks a significant step forward in our mission to make biology easier to engineer,” said Jason Kelly, CEO of Ginkgo Bioworks.

“With Ginkgo Datapoints, we’re passing on our economies of scale to our customers by generating large, high-quality datasets for our customers at a price per dataset that makes training biological foundation models feasible.”

The news comes just a day after Ginkgo shares rallied close to 10% after the company announced the launch of its new protein large language model built on Google Cloud.

The company's protein LLM, built in collaboration with Google Cloud Consulting, will allow individual researchers and enterprise companies to develop medicines with insights from Ginkgo's private data.

Ginkgo Bioworks also announced the launch of its model API, designed to deliver biological AI models directly to machine learning scientists. The company’s new API became publicly available on its website on Tuesday. Ginkgo said it plans to roll out more models and expand API capabilities over the next year.

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DNA Price Action: Ginkgo Bioworks shares closed Tuesday up 9.31%. The stock was up 1.26% Wednesday morning, trading at $6.89 at the time of publication, according to Benzinga Pro.

Photo: LaCasadeGoethe from Pixabay.