Generate Biomedicines, Inc. Common Stock

Nvidia has disclosed a $10.4 million investment in Generate Biomedicines, a small biotech company using AI and machine learning to accelerate drug development. The stake, revealed in a May 13F filing, consists of over 833,000 shares and aligns with CEO Jensen Huang's view that AI's most profound impact will be in life sciences. Nvidia is also collaborating with Eli Lilly on a five-year, up to $1 billion AI co-innovation lab to expedite drug research. Generate Biomedicines' lead candidate GB-0895, a potential asthma treatment, is currently in Phase 3 trials. The investment could serve as a proof point for Nvidia's chips in healthcare applications beyond chatbots.

Cathie Wood added to three recently public stocks in her Ark Invest ETFs on Monday. She increased positions in Space Exploration Technologies, Generate Biomedicines, and Bullish, all of which went public within the past year. SpaceX, which went public almost a month ago, is set to join the Nasdaq-100 index on Tuesday, potentially driving passive buying. Generate Biomedicines, a clinical-stage generative biology company, is trading above its February IPO price of $16 and has Nvidia as an investor. Bullish, a digital currency exchange and infrastructure provider, has seen its shares fall 72% since going public last summer amid a crypto downturn, though it recently announced a $4.2 billion deal for Equiniti.