Nvidia-Backed AI Biotech Iambic Up 16% After $150 Million IPO

Iambic Therapeutics Inc. shares rose 16% in their trading debut after the clinical-stage cancer drugmaker and AI technology firm raised $150 million in a US initial public offering. The company, backed by Nvidia, develops AI-driven drug discovery platforms. The strong debut signals investor appetite for AI-biotech firms, with shares trading above the offering price throughout the session.