Nvidia-Backed SandboxAQ Introduces New AI Medical Data
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Interestingly, this data doesn't come from years of lab research. Instead, SandboxAQ produced it with the help of Nvidia's processors. This allowed it to create simulated synthetic molecules based on real-world data.
SandboxAQ believes the information gleaned from these virtual tests of proteins will assist with training AI models. These models could then aid scientists as they research new medical treatments. Nadia Harhen, general manager of AI simulation at SandboxAQ, told Reuters that this will allow researchers to 'use the synthetic data in a way that's never been done before.'
What Does This Mean for Nvidia?
First off, Nvidia is already a backer of SandboxAQ, meaning it wants to see the company succeed. The introduction of new data to train AI models is a boon to NVDA, as it is the world's leading provider of graphics processing units (GPUs) used in AI servers.
The more uses there are for AI, the higher the demand for AI servers. That will also push demand for Nvidia's products higher, boosting its business and potentially further securing its dominance in the AI sector.
Recent analyst coverage backs up this idea. Five-star Barclays analyst Thomas O'Malley reiterated a Buy rating and increased his price target for NVDA stock to $200 from $170, suggesting a 38.77% upside.
Is Nvidia Stock a Buy, Sell, or Hold?
average NVDA stock price target of $173.19, representing a potential 20.17% upside for the shares.
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