Source: OpenEvidence, which offers an AI chatbot for doctors, is raising $250M at a $12B valuation, up from $6B in Oct., and has $150M in annualized ad revenue (Stephanie Palazzolo/The Information)

• OpenEvidence, a company providing an AI chatbot for doctors, is reportedly raising $250 million at a valuation of $12 billion, a significant increase from $6 billion in October. The company has also achieved $150 million in annualized advertising revenue, indicating strong market demand for its services.
• This funding round is crucial for OpenEvidence as it seeks to expand its operations and enhance its AI capabilities, which are designed to assist healthcare professionals in accessing reliable medical information efficiently. The increased valuation reflects investor confidence in the company's growth potential.
• The surge in funding and valuation for OpenEvidence aligns with broader trends in the AI sector, where companies are rapidly innovating to meet the growing demand for AI-driven solutions in various industries, including healthcare. This trend is mirrored by other companies in the AI space, such as Fluidstack and Databricks, which are also securing substantial investments to bolster their technological advancements.

— via World Pulse Now AI Editorial System