10 Buzzing AI Health Stocks 

5. Amgen Inc. (NASDAQ:AMGN)

Number of Hedge Fund Holders: 69 

Amgen Inc. (NASDAQ:AMGN) discovers, develops, manufactures, and delivers human therapeutics worldwide. Amgen has integrated AI into its drug discovery process, using machine learning to identify new drug targets and optimize clinical trials. AI-driven tools have enabled Amgen to accelerate the discovery of treatments for oncology and cardiovascular diseases, reducing the time and cost associated with drug development. These tools allow the company to analyze massive datasets and predict drug efficacy more efficiently.

Amgen’s AI-driven initiatives have contributed to a revenue increase in 2023. For the fourth quarter of 2023, total revenues increased 20% to $8.2 billion in comparison to the fourth quarter of 2022. For the full year of 2023, total revenues increased 7% to $28.2 billion, resulting from a 9% increase in product sales. This growth was driven in part by new therapies developed using AI tools. Amgen expects further revenue growth as it continues to apply AI to enhance its R&D processes, enabling faster drug development and improved clinical outcomes.