Recursion Pharmaceuticals’ AI Drug Development
Recursion Pharmaceuticals (NASDAQ: RXRX) has developed an AI-powered platform that can virtually test drugs, significantly reducing the time and cost associated with traditional clinical trials. Utilizing 36 petabytes of biological and chemical data, the technology allows for the rapid assessment of drug candidates. Major pharmaceutical companies like Roche and Sanofi are already employing Recursion’s services.
Shopify’s E-commerce Growth
Shopify (NASDAQ: SHOP) facilitated $292.3 billion in goods and services sales last year, marking a 24% increase compared to the previous year. The platform enables brands to establish their own online stores, helping them bypass major retailers like Amazon (NASDAQ: AMZN). Analysts predict Shopify will continue to grow by approximately 20% annually over the next three years.
Nio’s Electric Vehicle Sales
Nio (NYSE: NIO) reported a delivery of 72,056 electric vehicles in Q2 2023, up nearly 26% year-over-year. While facing challenges in the U.S. market, Nio’s sales in China increased by 25%, accounting for over half of the country’s car sales last month. The International Energy Agency forecasts that electric vehicles will make up 80% of China’s total car sales by 2030.
