US chipmaker Nvidia invests $50 million

US-based chipmaker Nvidia will invest $50 million in biotechnology company Recursion to accelerate the development of artificial intelligence models for drug discovery. In a statement, Recursion stated that it has partnered with Nvidia to accelerate the development of "groundbreaking" basic models in the field of artificial intelligence-assisted drug discovery. The statement noted that Nvidia will invest $50 million in Recursion, which uses artificial intelligence-assisted models to identify and design new treatments. The company's statement reported that Recursion will use biological and chemical datasets exceeding 23,000 terabytes to run its artificial intelligence models on Nvidia's cloud platform. Following the news of the investment, Recursion's shares traded on the Nasdaq Stock Exchange gained over 115 percent.