Nvidia has invested $10.4 million in Generate Biomedicines, acquiring 833,325 shares of the AI biotech company, according to its latest 13F filing. The investment comes as Generate Biomedicines advances multiple programmes into clinical development, including a Phase 3 asthma treatment and several oncology therapies. Generate Biomedicines uses AI and machine learning to design new proteins and potential medicines, accelerating traditional drug development processes. The company recently went public in February 2026 and ended its first quarter with $516.6 million in cash, sufficient to fund operations until 2028. The clinical-stage biotech currently has no approved products but generated $7.2 million in revenue from research collaborations with Amgen and Novartis. Wall Street analysts give the stock a "Strong Buy" rating, with a mean price target of $25.40, suggesting 96% upside potential.

Nvidia’s backing highlights growing confidence in AI-powered biotech stocks.

Generate Biomedicines has reported first quarter 2026 financial results, with cash, cash equivalents and marketable securities totalling $516.6 million as of 31 March 2026, up from $221.5 million at year-end 2025, following $369.3 million in net proceeds from its IPO completed in March. The clinical-stage biotech is advancing multiple programmes. Phase 3 trials for GB-0895, an anti-TSLP treatment for severe asthma, continue alongside a Phase 1b trial in COPD. Its GB-4362 MMAE neutraliser has activated clinical trial sites, with first patient dosing expected mid-2026, whilst GB-5267, a MUC16 CAR T therapy developed with Roswell Park, is expected to begin dosing in the second half of 2026. Net loss for the quarter was $61.7 million, compared with $44.3 million in the same period last year.