Tempus AI is still undervalued because its data business alone may be worth a large share of the company. Data and Applications revenue of about $400 million in FY26, growing at management's roughly 30% long-term rate, reaches about $676 million by FY28; at a conservative 12-14x sales that is $8.1-9.5 billion. That leaves the diagnostics business, with about $1.2 billion of revenue, valued at only about $4.5 billion. x.com 

The new licenses strengthen Tempus AI's long-term $50-100B bull case by monetizing its clinical data in neurology as well as oncology. Per Tempus, Pathos agreed to pay $55M over five years to license a neurology dataset Tempus plans to build from hundreds of thousands of patient records. Tempus also says Bristol Myers Squibb expanded oncology data licensing through 2031 and will gain access to Lens. x.com  x.com  x.com 

Tempus AI may go lower near term because of valuation, leadership reputation and insider selling, despite an amazing business. With about 25% growth expected and profitability uncertain, it is not obviously cheap. Glassdoor reviews matter in medicine's high-trust setting, and ongoing insider sales echo founder patterns that ended badly. The data piece, about 5% of market cap, can earn a high multiple, so the stock looks reasonably priced if adoption continues. x.com 

Tempus AI's new pharma contracts put cash payments behind its data and AI platform, beyond diagnostics. Bristol Myers Squibb renewed and expanded oncology-data and Lens access for $137.5M in fixed payments through 2031; Pathos agreed to pay up to $55M for 500,000 neurology records and updates over five years, depending on delivery. Together the deals total up to $192.5M, meaningful validation though not an enormous sum. x.com 

Tempus AI is proving its real thesis: diagnostics is the data acquisition engine and data and applications is the high-multiple business, turning a clinical data network into an AI platform. In Q1, revenue grew 36%, data and apps 40.5%, insights 44.1% and MRD volume 500%. x.com 

Tempus AI is a second- or third-tier genomic lab whose AI story is marketing mumbo jumbo, and its management team are promoters. x.com 

Tempus AI has quietly built a data moat the market hasn't figured out. It holds 45 million de-identified patient records and 500+ petabytes of clinical data, partners with AstraZeneca, GSK and Merck, and has FDA approval for its xT CDx test. With 20% short interest, a bottom is forming at $42-46, and a buy signal triggered at $55.87. x.com 

Tempus AI has a data moat no one has replicated: a multimodal, patient-linked genomic, clinical and imaging dataset at scale. It holds over 8 million imaging files, 1.5 million matched clinical and molecular profiles and 4.5 million sequencing samples, which drug companies leaning on AI increasingly need. It is expanding from oncology into cardiology, neuropsychiatry and radiology. Revenue grows 25% and gross margin rose from 32% in 2021 to 64%, though last quarter's profit was a one-time item. … Show more

Tempus AI is a short idea because the stock is being pumped on recent FDA clearances for its EKG-AI tools, while the revenue from them is far off and may never materialize. x.com 

Diagnostics companies such as Tempus AI and Personalis control data AI labs cannot easily get, because it is a byproduct of running diagnostics businesses that the labs have neither the appetite nor the skill to build. Per David Friedberg, via @dnapway, nearly every big pharma company refused Anthropic's request to share proprietary data for a new life sciences model. That leaves @lefkofsky's Tempus holding the winning hand. x.com