JAKARTA - Chip design company Nvidia will invest $50 million to accelerate training on the artificial intelligence model Recursion in drug discovery. This statement was announced by the two companies on Wednesday, July 12. This news made the company's shares soar by around 62%.
Recursion, which has advisers including the pioneer of Yoshua Bengio's artificial intelligence, will use their biological and chemical datasets of more than 23,000 terabytes to train artificial intelligence models on Nvidia cloud platforms.
Nvidia, which is considered a major winner in the boom of artificial intelligence, can then license these models to biotechnology companies through BioNeMo, a generative artificial intelligence cloud service for drug discovery launched by Nvidia earlier this year.
It is not clear whether Nvidia will take shares in Recursion. The drug development company has not yet responded to a request for clarification.
The biofarmasi company operates a Recursion OS platform that provides drug manufacturers with access to the datasets needed in designing and developing therapies.
The investment comes as Recursion strengthened its focus on artificial intelligence in May by acquiring two companies in the field of drug discovery backed by artificial intelligence for $87.5 million.
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Recursion plans to use Nvidia software to support its own path of development, as well as its partner path. Salt Lake City-based company Utah currently has partners such as Bayer and Roche.
Recursion is conducting human trials for five cures, including candidates undergoing mid-stage testing to treat the type of neurovascular disease caused by small blood vessel malformation in the brain.
Other well-known supporters of this biotechnology company include sovereignty investors Abu Dhabi, Mubadala, and UK-based investment firm Baillie Gifford & Co.
Recursion shares rose to $10.99 in morning trade ahead of noon with high trading volume. If the current rise persists throughout the session, they will print the best day since going public in 2021.
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