July 12 Quick Takes: Recursion combining internal models with Nvidia cloud services with partnership, $50M PIPE

Shares of Recursion Pharmaceuticals Inc. (NASDAQ:RXRX) rose 115% to $14.60 after the AI-enabled drug discovery company announced a partnership with Nvidia Corp. (NASDAQ:NVDA) to optimize its internal AI models for biology and chemistry — trained on the company’s data, which exceeds 23 petabytes and 3 trillion searchable gene and compound relationships — with the intention to distribute them to biotech companies via Nvidia’s cloud services. Nvidia also made a $50 million PIPE investment in Recursion.

In the latest development in the battle over the $7.1 billion takeout of Grail Inc. by next-generation sequencing company Illumina Inc. (NASDAQ:ILMN), the EC has fined Illumina €432 million ($473 million) for implementing its proposed acquisition of the cancer screening company before gaining approval by the commission. It’s the maximum fine allowed under EU rules. The EC imposed a symbolic fine of €1,000 on Grail...