NVIDIA Corporation (NASDAQ:NVDA) has dedicated US$50mln to a multi-year collaboration with US-listed biotech company Recursion Pharmaceuticals to develop AI-based software for improving patient treatments.
Recursion also announced plans to accelerate the development of its AI foundation models for biology and chemistry, which, in collaboration with NVIDIA, it intends to optimise and distribute to biotechnology companies using NVIDIA cloud services.
Recursion plans to utilise its vast proprietary biological and chemical dataset, which exceeds 23 petabytes and three trillion searchable gene and compound relationships, to accelerate the training of foundation models on NVIDIA DGX Cloud.
Recursion has its own in-house supercomputer, the BioHive-1, which is driven by Nvidia’s cutting-edge graphics processing units.
Though Nvidia is historically aligned with the gaming industry, its GPUs have become an integral part of the AI boom.
Due to this, Nvidia’s market value has skyrocketed in 2023, making it the latest one-trillion-dollar company.
Nasdaq-listed Recursion’s share price more than doubled after the Nvidia collaboration was announced. At the time of writing, the group had a market capitalisation of US$2.8bn.
“The collaboration between Recursion and NVIDIA marks a significant milestone on our journey toward revolutionizing drug discovery through AI,” said Recursion’s chief technology officer in a statement.
“With NVIDIA's expertise, resources, and shared vision, we hope to unlock new possibilities and accelerate the development of much-needed medicines. We anticipate that this collaboration will not only advance our mission but also have a lasting impact on the broader field of biotechnology," he added.