SITUATION EXPLAINED: Isomorphic Labs, Demis Hassabis's AlphaFold spinout, is in talks to raise at a $40 to $50 billion valuation. • It raised a $2.1B Series B just 5 months ago, led by Thrive Capital, with Alphabet and sovereign funds from Singapore, the UAE and the UK • Hassabis stepped down as Google DeepMind CEO in August but still runs Isomorphic, on top of being Alphabet's chief scientist • AlphaFold 2 cracked protein folding in 2020, predicting a protein's 3D shape from its amino acids,…