Nvidia Invests in Generate Biomedicines
Nvidia (NASDAQ: NVDA), a leader in artificial intelligence technology, has acquired 833,325 shares of Generate Biomedicines (NASDAQ: GENB), a biotech firm specializing in AI-driven drug development. This investment is part of Nvidia’s venture capital arm, NVentures, amounting to approximately $13 million in a company with a market cap of $2 billion.
Generate Biomedicines focuses on reducing pharmaceutical development costs and time through its AI platform, which simulates drug responses for disease treatment. The company currently has four drug candidates in its pipeline, with one, GB-0895, in phase 3 testing for severe asthma. The AI-powered drug development market is projected to grow to $160 billion annually by 2035.
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