Recursion Pharmaceuticals, a clinical-stage biotechnology company, has announced a significant investment of $50 million from Nvidia through a private investment in public equity (PIPE) transaction.
Collaborating to Solve a Global Challenge
Recursion CEO Chris Gibson expressed excitement about the collaboration, stating, “Our collaboration with NVIDIA represents two best-in-class companies coming together to help solve one of the world’s most difficult challenges, drug discovery.”
Industrializing Drug Discovery
Recursion aims to revolutionize drug discovery by leveraging Nvidia’s cutting-edge technology and expertise. The company plans to utilize AI models and software, powered by Nvidia’s technology, for the purpose of accelerating the drug discovery process.
Empowering Drug Discovery through AI
Nvidia CEO Jensen Huang emphasized the importance of generative AI in discovering new medicines and treatments, stating, “Generative AI is a revolutionary tool to discover new medicines and treatments. We are delighted to collaborate with Recursion’s world-class team, which is doing pioneering work.”
High Exposure to Generative AI
Nvidia chips have established a notable position in the field of generative AI. This technology has gained significant attention and popularity in recent times. By ingesting vast amounts of text, images, and videos, generative AI is capable of generating content and providing valuable analytical output.
Promising Market Performance
Following the announcement, Recursion Pharmaceuticals experienced a substantial 153% increase in premarket trading on Wednesday. In contrast, Nvidia stock saw a moderate gain of 1.4%.