In this episode, Scott Becker discusses Tempus AI’s rapid growth, recent market moves, and its impact on oncology care.
Chapter 1: What are the key points about Tempus AI?
This is Scott Becker with the Becker Private Equity and Business Podcast. Thrilled to recently pass 7 million downloads. Thrilled to also be in a spot where ranked, I think, first a week or two ago on the Apple Business News Podcast ranking. So God bless that. Today's discussion is Tempest AI, four or five quick points. So here's the deal with Tempest.
Chapter 2: Who are the founders of Tempus AI?
Tempest AI was founded by a brilliant entrepreneur, Eric Kowalski. He's also the founder of a company called Groupon. His partner in founding Groupon, Brad Keywell, is not a founder in Tempest AI, but an early investor in Tempest AI. And between the two of them, they own a substantial amount of the shares in Tempest. Tempest AI, just for background, is currently as a market cap investor.
Chapter 3: What was the market performance of Tempus AI recently?
about 9.5 billion. I think there's five or six of the biggest shareholders on about 51% with Eric, this brilliant entrepreneur owning about 26% or so of those shares. Tempest fell yesterday on a critical report from a short seller.
Chapter 4: What factors influenced the stock drop of Tempus AI?
The short selling reports are always so convoluted because sometimes the short sellers are driving reports to try and drive the stock down so they can profit from short selling. But in any event, the stock dropped about 20% yesterday. It's back up a few percent today. And so you don't worry too much about Tempest. It's also up about 62% year to date. So it's doing just fine.
Chapter 5: Why is Tempus AI important to the speaker?
Now, one of the reasons we watch Tempest AI is really twofold or threefold. One, it's founded by people that are local to us. So we watch it and we're curious. They've done a tremendous job as entrepreneurs. Second, when a nephew, he had a serious, horrendous cancer several years ago.
I was fascinated to learn that one of the technologies that the great health system was using to help analyze the cancer and what to do next and to look at precision medicine and so forth was what was developed by Tempus AI. And this was by one of the greatest health systems in the world.
So I was very impressed that they'd moved to that spot where Tempus was that well-received and that much a tool of the trade by huge health systems. So I was really impressed by it. The third reason I watch Tempest, which I'm not afraid to admit this is—
One of my close friends who's based in Indianapolis was an earlier investor in Tempest and continues to tell me how well he's done with Tempest while I've done so poorly with another company called Astera Labs. So multiple reasons we watch it. It's founded by hometown people that have just knocked it out of the park.
That's not a pun on the word hometown because I believe that Eric is also an investor in hometown coffee and juice ran by the brilliant Rubin family. But it was not intended as a pun. But the point being, Tempest is still just doing tremendously well. It's got a market cap at almost $10.9 billion as of today.
And my buddy, who will remain nameless, keeps on bragging to me about how he got into it early and I did not. Thank you for listening to the Becker Private Equity and Business Podcast. Thank you very much.
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