RXRX - Recursion Pharmaceuticals Wants to 4X Its Supercomputing Power for AI With the Help of Nvidia. Here's Why It Matters.
2023-11-26 09:30:00 ET
For a biotech like Recursion Pharmaceuticals (NASDAQ: RXRX) that aims to use artificial intelligence (AI) and petabytes of data as tools for drug discovery and development, computing power is a key resource. Without a lot of computational capacity, there's simply no way for the company to comb through billions of different molecules and calculate whether they might be useful in the context of the billions of biological targets that could be relevant to treating diseases.
With the help of its collaborator, chipmaker Nvidia , Recursion now intends to become the biotech industry's computational powerhouse. If it succeeds, the benefits could be so great as to be nearly unimaginable. Here's what it's doing and why the upside could be so big.
On Nov. 9, management shared a few key updates with investors that sketched out a plan for a major expansion of the company's capabilities. The first step was to sign a collaboration with Tempus Labs to access its vast trove of 20 petabytes of oncology data, which includes genetic information, biomarkers, and health records. It will pay Tempus $160 million in cash or equity over the next five years for the privilege.
For further details see:
Recursion Pharmaceuticals Wants to 4X Its Supercomputing Power for AI With the Help of Nvidia. Here's Why It Matters.