Nvidia just made several big announcements at CES 2024, including new chips for generative AI, PCs, gaming, and newer partnerships. NVDA also announced its newest GeForce RTX graphics cards, which offer 4K resolution. And it announced it just expanded its partnership with companies such as Amgen and Recursion Pharmaceuticals to assist with drug discovery.
“Momentum behind AI-powered drug discovery has been building as the pharmaceutical industry seeks to rein in the costly failure rate involved in traditional development of medicines. Roughly 90% of drug candidates that reach the clinical-trial stage fail, and for successful drugs, the path to the U.S. market typically takes 10 to 15 years and costs about $2.5 billion,” as noted by Morningstar.com.
Bank of America also believes NVDA could see $700 this year.