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Nvidia's chips primed the company to leverage the latest AI boom. Advancements in AI have fields beyond tech — like healthcare and finance — racing to figure out how to implement the technology. To do so, you need chips known as graphics processing units or GPUs that will power the AI tech. An Nvidia spokesperson declined to comment but pointed to a December blog post outlining how the company supports ventures "harnessing Nvidia technologies." "The biology companies, the healthcare companies, financial services companies, AI developers, large-language model developers, autonomous vehicle companies, robotics companies … All of these startups, large companies, healthcare, financial services and auto and such are working on NVIDIA's platform, Huang in an earnings call in February.
Persons: , Nventures, Jensen Huang, Huang Organizations: Nvidia, Service, Microsoft, Apple, Business, Wall Street, Moon, Sofinnova Partners, Cathay Health, SEC, Pharmaceuticals, NVIDIA Locations: California
Bioptimus, a new French AI startup for life sciences, has raised $35 million in seed funding. Founded in 2023, Bioptimus is the brainchild of Jean-Philippe Vert, a former research scientist at Google and recently chief R&D officer at French health AI startup Owkin. The company was formed to capitalize on the enormous potential of AI in biological sciences, Vert told Business Insider. "There is something very special now about AI," Vert said. Owkin, Vert's former employer, is an investor and partner to the startup, as is tech entrepreneur and investor Xavier Niel.
Persons: Bioptimus, Jean, Philippe Vert, Rolophe Jenatton, Xavier Niel Organizations: Google, Business, Sofinnova Partners, Cathay Innovation, Harvest, Fundraising Locations: Owkin
Private equity acquires a taste for drug development
  + stars: | 2023-01-09 | by ( David Carnevali | ) www.reuters.com   time to read: +6 min
Jan 9 (Reuters) - Private equity firms that deemed drug development too risky for their liking in the past are increasingly investing in the sector, raising dedicated funds and coming up with deals that compensate them for the uncertainty involved. These deals are not structured as the leveraged buyouts that private equity firms are mostly known for. In most cases, the drug makers start paying the money back to the private equity firms when the drug is being developed, either by issuing equity, tapping cash on hand or borrowing. They also share a slice of the newly developed drug's revenue with the private equity firms once it's approved. Private equity firms also provide capital to spin out drugs into new companies.
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