US-based chip maker Nvidia will invest $50 million in biotech company Recursion to accelerate the development of artificial intelligence models for drug discovery.
In a statement from Recursion, it was stated that it is collaborating with Nvidia to accelerate the development of “groundbreaking” basic models in the field of artificial intelligence-assisted drug discovery.
In the statement, it was noted that Nvidia will invest $ 50 million in Recursion, which uses artificial intelligence-assisted models to identify and design new treatments.
In the company’s statement, it was stated that Recursion will use biological and chemical datasets in excess of 23,000 terabytes to run artificial intelligence models on Nvidia’s cloud platform.
Following the investment news, Recursion’s shares traded on the Nasdaq Stock Exchange gained more than 115 percent.