StockWatch: Nvidia Soars 24% with Recursion, Amgen AI Alliances


  • Nvidia’s stock has risen by 24% in the first three weeks of 2024.
  • Two analysts have raised their price targets for Nvidia shares.

Nvidia has seen a surge in its stock price in the first few weeks of 2024, with shares climbing 24% since the start of the year. The company has been attracting investors’ attention with its success in artificial intelligence (AI) and its potential to reshape biopharma and other industries. The recent announcements of partnerships with Recursion and Amgen further solidify Nvidia’s position in the AI drug discovery space. The company’s BioNeMo platform, a generative AI cloud-based platform for faster drug discovery and design, is advancing into beta this month. Recursion will release the first in a potential series of foundation models for external use on BioNeMo, while Amgen will use Nvidia’s DGX SuperPOD to build AI models trained on its genetics dataset. Nvidia’s CEO, Jensen Huang, has highlighted the importance of AI-accelerated drug design and the need for advanced models and computing platforms. The recent surge in Nvidia’s stock price has led to two analysts raising their price targets for the company’s shares. However, other companies in the AI and gene editing space