- DeepSeek, a Chinese startup, released an AI assistant last week trained at significantly reduced cost compared to U.S. competitors such as NVIDIA, Microsoft, Meta and Google
- As the North American AI market scrambles to reverse engineer and catch up to DeepSeek’s models, shares of Perimeter Medical Imaging AI (TSXV:PINK) gained as much as 58.93 per cent on the day
- The medical technology company is focused on transforming cancer surgery with advanced imaging tools in areas of high unmet need
- Perimeter Medical Imaging AI stock has given back 30 per cent year-over-year and over 50 per cent since 2020
DeepSeek, a Chinese startup, released an AI assistant last week trained at significantly reduced cost compared to U.S. competitors such as NVIDIA, Microsoft, Meta and Google.
U.S. and Canadian stocks have reacted negatively to the innovation, falling in early Monday trading, with AI-focused names suffering the most. Notable losses as of 10:38 am include:
- NVIDIA (NASDAQ:NVDA), -13.42 per cent.
- Alphabet (NASDAQ:GOOG), -2.86 per cent.
- Microsoft (NASDAQ:MSFT), -3.07 per cent.
- Oracle (NYSE:ORCL), -8.53 per cent.
- Celestica (TSX:CLS), -15.93 per cent.
- Healwell AI (TSX:AIDX), -5.62 per cent.
- SoundHoundAI (NASDAQ:SOUN), -6.09 per cent.
As the North American AI market scrambles to reverse engineer and catch up to DeepSeek’s models, shares of Perimeter Medical Imaging AI (TSXV:PINK), market capitalization C$57.04 million, gained as much as 58.93 per cent on the day, with investors playing contrarian to the ongoing rout in AI stocks.
The medical technology company is focused on adding value in cancer surgery through ultra-high-resolution imaging tools. Here’s a breakdown:
- Its FDA-approved Perimeter S-Series OCT system, available across the U.S., provides real-time, cross-sectional visualization of excised tissues at the cellular level, reaching 10 times the resolution of X-ray and ultrasound and 100 times MRI.
- Its Perimeter B-Series OCT system with ImgAssist AI, a recipient of the FDA’s Breakthrough Designation, is an AI imaging technology designed to better visualize breast cancer. It’s currently under clinical trial supported by an up to US$7.4 million grant awarded by the Cancer Prevention and Research Institute of Texas.
While Perimeter Medical Imaging AI has never operated at a net income profit since inception in 2020, the S-Series OCT’s ability to reduce verification of cancer removal from up to 7 days down to about 15 minutes represents a robust source of potential value. According to the company’s latest investor presentation, the top 8 cancers in the U.S. entail US$1.2 billion in costs related to repeat surgeries per year.
With a growing patent portfolio and US$9.5 million in cash as of September 2024, the company is certainly one to watch as it executes on an ambitious growth plan (slide 19) towards greater scale, pricing power and profitability.
About Perimeter Medical Imaging AI
Perimeter Medical Imaging AI is a medical technology company focused on transforming cancer surgery with advanced imaging tools in areas of high unmet need.
Perimeter Medical Imaging AI stock (TSXV:PINK) is up by 32.08 per cent trading at C$0.70 per share as of 11:00 am ET. The stock has given back 30 per cent year-over-year and over 50 per cent since 2020.
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(Top photo: Perimeter Medical Imaging AI)