12:02 - 13.07.2023

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July 13, Fineko/abc.az. Chip maker Nvidia is investing $50 million in Recursion Pharmaceuticals to accelerate the development of the biotech firm's artificial intelligence models for drug discovery, ABC.AZ reports, referring to Nvidia.

Recursion’s shares soared 80% after this announcement. Nvidia shares, which have boosted the stock market this year amid hopes for its artificial intelligence chips, rose more than 2%.

Recursion uses artificial intelligence-based models to identify and develop new treatments and offers these models to other drug manufacturers, including Roche and Bayer.

Nvidia could potentially license these artificial intelligence models to BioNeMo, the company's cloud service for generative artificial intelligence in drug development, which was launched earlier this year.