DIRS.INFO The most relevant business & tech news

☆ Investors want proof AI will aid drug discovery. Evidence may come in the second half
▼ + stars: | 2024-07-06 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +10 min

Analysts who have been following companies on the cutting edge of using generative AI for drug discovery say it is still very early days. But these endorsements haven't lifted Recursion shares out of a slump. RXRX 1Y mountain Recursion shares over the past year. The drug company will be a beta user of Recursion's LOWE (Large Language Model-Orchestrated Workflow Engine) and the pair are also partnering on oncology research. SDGR 1Y mountain Schrodinger shares over the past year.

Persons: Scott Schoenhaus, Chris Gibson, Jensen Huang, Leerink, Mani Foroohar, Foroohar, Recursion's, KeyBanc's Schoenhaus, Needham, Gil Blum, it's, Recursion's LOWE, Blum, Eli Lilly, AbCellera, KeyBanc's, Schoenhaus, FactSet, Allison Bratzel, Piper Sandler, Goldman Sachs, Salveen Richter, Peter Lawson, Lawson, Japan's Takeda, Schrodinger, Leerink's Foroohar Organizations: Analysts, Capital, Nvidia, ARK Investment Management, REC, CCM, Union, Bayer, Therapeutics, Dynamo, RLY, Barclays, Japan's Locations: U.S, biopharma, Biohive

☆ The restaurant stocks that are killing it in this market have one thing in common
▼ + stars: | 2024-05-12 | by ( Jim Cramer | ) www.cnbc.com time to read: +17 min

When a company performs well and I interview its CEO on CNBC, I consider the stock's performance before fashioning my questions. Maybe the company had been poorly run and the guest is a new CEO who is turning it around. Once Wood picks a stock, that company can do no wrong, which is code for she can do no wrong. And take it from me, an old Mexican restaurant veteran, it travels better than any other restaurant chain. We should have just bought Dutch Bros. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)

Persons: Albert Manifold, Rather, That's, Chris Gibson, Jensen Huang, Huang, Gibson, Cathie Wood, Wood, that's, Brinker, Chipotle, Chipotle execs, Taco Bell, isn't, Yum, McDonald's, Laxman Narasimhan, Howard Schultz, let's, Narasimhan, Joe, Locker, Jim Cramer's, Jim Cramer, Jim, Al Drago Organizations: CNBC, Pharmaceuticals, Nvidia, ARK, Gallup, Darden, Diageo, Brands, KFC, Taco, Taco Bell, Texas, Starbucks, Management, Bros, Dutch Bros, Jim Cramer's Charitable, Starbucks Corp, Health, Education, Labor, Bloomberg, Getty Locations: United States, U.S, Dublin, Ireland, Europe, Texas, Olive, East, Israel, Washington , DC

☆ Recursion Pharmaceuticals CEO explains how AI could make drug development faster and less costly
▼ + stars: | 2024-05-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

In a Friday interview with CNBC's Jim Cramer, Recursion Pharmaceuticals CEO Chris Gibson discussed how his company is using artificial intelligence and machine learning to make the process of developing drugs faster and less expensive. Recursion Pharmaceuticals is a clinical-stage biotech company that received a $50 million investment from Nvidia last summer. "I think with clinical trials, there's still going to be a few years to get through the clinical trial space," Gibson said. Before Recursion's AI-focused approach, there wasn't a clear path toward making a drug to successfully tackle this disease, he said. "Think of it as, like, Google Street View driving around taking pictures of everything," he said.

Persons: CNBC's Jim Cramer, Chris Gibson, Gibson, there's Organizations: Pharmaceuticals, Nvidia Locations: U.S

☆ Nasdaq leads Wall St to higher close as CPI report lifts sentiment
▼ + stars: | 2023-07-12 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Shares of big tech-related companies, which tend to be sensitive to higher interest rates, gave the S&P 500 its biggest boost. The Labor Department report also showed the smallest monthly gain in underlying consumer prices since August 2021. The S&P 500 banks index (.SPXBK) was up 0.6%. Advancing issues outnumbered declining ones on the NYSE by a 3.23-to-1 ratio; on Nasdaq, a 1.93-to-1 ratio favored advancers. The S&P 500 posted 66 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 129 new highs and 42 new lows.

Persons: Michael James, Quincy Krosby, Marvel, Janet Yellen's, Caroline Valetkevitch, Johann M Cherian, Shashwat Chauhan, Shinjini Ganguli, Nick Zieminski, David Gregorio Our Organizations: Nvidia, Broadcom, Dow, Nasdaq, Reserve, CPI, Wedbush Securities, Dow Jones, Labor Department, JPMorgan Chase, chipmaker Broadcom, VMware, Marvell Technology, Treasury, NYSE, Thomson Locations: Los Angeles, North Carolina, U.S, York, China, Beijing, Bengaluru

☆ Nvidia deepens bets on AI in drug discovery with Recursion investment
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

July 12 (Reuters) - Chip designer Nvidia (NVDA.O) will invest $50 million to speed up training of Recursion's (RXRX.O) artificial intelligence models for drug discovery, the companies said on Wednesday, sending the biotech firm's shares surging about 62%. Recursion, whose advisers include AI pioneer Yoshua Bengio, will use its biological and chemical datasets exceeding 23,000 terabytes to train AI models on Nvidia's cloud platform. Nvidia, seen as a big winner of the boom in artificial intelligence, could then license those models to biotech firms through BioNeMo, a generative AI cloud service for drug discovery that it rolled out earlier this year. The investment comes as Recursion strengthened its AI focus in May by snapping up two companies in the AI-driven drug discovery space for $87.5 million. The Salt Lake City, Utah-based company's current partners include Bayer (BAYGn.DE) and Roche (ROG.S).

Persons: Nvidia, Roche, Mubadala, Baillie Gifford, Chavi Mehta, Stephen Nellis, Mariam Sunny, Shilpi Majumdar, Sriraj Organizations: Nvidia, Bayer, Baillie Gifford & Co, Thomson Locations: BioNeMo, Salt Lake City , Utah, Abu, Bengaluru, San Francisco

☆ Nvidia invests $50 million in biotech company Recursion for A.I. drug discovery
▼ + stars: | 2023-07-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Chipmaker Nvidia will invest $50 million in Recursion Pharmaceuticals to speed up the development of the biotech firm's artificial intelligence models for drug discovery, the companies said Wednesday. AI models usually require vast amounts of data, typically measured in terabytes, to train them. Nvidia can then potentially license those AI models on BioNeMo, the company's cloud service for generative AI in drug discovery that it rolled out earlier this year. A month later, Google Cloud launched two new AI-powered tools that aim to help biotech and pharmaceutical companies accelerate drug discovery. The company in May acquired two companies in the AI-driven drug discovery space for $87.5 million.

Persons: Roche, Chris Gibson, Nvidia's, drugmakers, Exscientia, AbCellera Biologics, — CNBC's Benjamin Taubman Organizations: Nvidia, Pharmaceuticals, Bayer, NVIDIA, Moderna, Google Cloud Locations: Salt Lake City , Utah

☆ The CEO of a $1.6 billion biotech says his bet on AI is paying off with faster, cheaper research that could reshape the industry
▼ + stars: | 2023-01-25 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +6 min

It has generated tons of data with AI and robots, aiming to find a better way to make drugs. For a biotech executive hoping to make something vast, Chris Gibson seems proudest in obsessing over the tiniest details. Gibson calls this the "human-y" element of research — and it's what Recursion is working hard to eliminate. What's happening in AI — and Recursion is emblematic of this — is we're at the second half of the chess board." Despite the progress in generating massive amounts of data, Recursion's leaders acknowledged that the goal of creating an approved medicine is likely still years away.

Search resuls for: "Recursion's"

7 mentions found