Recursion Pharmaceuticals stock gets boost after Nvidia results

Shares of Recursion Pharmaceuticals Inc.
RXRX,
+3.30%
jumped more than 4% premarket on Thursday after chip giant Nvidia Corp.
NVDA,
+3.17%
on Wednesday posted blowout quarterly results. Recursion last month announced a $50 million investment from Nvidia, structured as a private investment in public equity, and plans to accelerate drug discovery using artificial intelligence. The biotech company said it will use Nvidia’s BioNeMo cloud service for generative AI in drug discovery to help develop its internal pipeline as well as its current and future partners. Recursion’s biological and chemical dataset includes over 23 petabytes and 3 trillion searchable gene and compound relationships. Recursion shares have gained 21.7% in the year to date, while the S&P 500
SPX,
+1.10%
is up 15.5%.