Recursion Pharma, a leading biotech company, experienced a significant surge in its shares, with an 81% increase, after announcing a $50 million investment from NVIDIA. This investment was executed as a private equity investment in public equity. As a result, the stock reached its highest point in the past year, hitting $14.99 during the session. Over the past 12 months, the stock has shown a remarkable 49% growth.
In addition to the substantial investment, Recursion Pharma revealed its plans to expedite the development of its AI foundation models for biology and chemistry. These models will be optimized and distributed to various biotechnology companies using NVIDIA cloud services, thanks to the collaborative effort with NVIDIA. By leveraging its extensive biological and chemical dataset, which exceeds an impressive 23 petabytes and encompasses 3 trillion searchable gene and compound relationships, Recursion intends to enhance the training of these foundation models. NVIDIA, with its expertise in full-stack computing, will also assist in optimizing and scaling Recursion’s foundation models.
It is worth noting that Recursion Pharma will utilize this advanced software internally to support its existing pipeline as well as future projects in collaboration with its partners.
By Chris Wack
