Nvidia Corp. (NVDA) and Eli Lilly (LLY) announced on Monday that the two companies will jointly invest $1 billion over five years to build a new joint research lab in the San Francisco Bay area.

The co-innovation lab will leverage Nvidia’s new Vera Rubin chips and be built on the company’s BioNeMo platform, while leveraging Eli Lilly’s pharmaceutical expertise to accelerate medicine development, the companies said.

The lab will expand on the U.S. pharma giant’s previously announced AI supercomputer and intends to use Nvidia’s next-generation architectures.

Shares of NVDA were down 0.39% at the time of writing, while shares of LLY were up 0.89% at the same time. 

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