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