From Wikipedia: "Video games supporting hardware acceleration by PhysX can be accelerated by either a PhysX PPU or a CUDA-enabled GeForce GPU (if it has at least 256MB of dedicated VRAM), thus offloading physics calculations from the CPU, allowing it to perform other tasks instead. In theory this should result in a smoother gaming experience and allow additional visual effects."
So once again: no. You need an nVidia graphics card supporting PhysX.