OpenEvidence Is Quietly Becoming the Google of Medicine

Let’s step back for a second and think about this: what if the next big AI wave isn’t about replacing workers or writing emails, but about making life-or-death decisions faster and smarter? That’s exactly what OpenEvidence is doing.

Founded in 2022 by Harvard Ph.D. and repeat entrepreneur Daniel Nadler, OpenEvidence set out to tackle a terrifyingly large problem: modern doctors are drowning in medical research. A new study is published every 30 seconds. Some are good, others outdated, and many contradict each other. For overworked doctors seeing 20 patients a day, keeping up isn’t just hard — it’s impossible.

OpenEvidence uses AI to solve that problem. Think of it as ChatGPT for doctors, but built from the ground up using peer-reviewed clinical research instead of internet randomness. And it’s not just some glorified search bar. This thing can reason, cite its sources, and walk physicians through treatment plans based on the latest science.

Nadler Joins the AI Billionaire Club

This week, OpenEvidence closed a new $210 million funding round at a jaw-dropping $3.5 billion valuation. That’s more than triple where it was earlier this year.

Nadler, who still owns about 60% of the company, is now officially a billionaire — with Forbes estimating his net worth at $2.3 billion. Investors are pouring in, from Google’s GV to Coatue, Thrive Capital, and Kleiner Perkins, whose chairman John Doerr called OpenEvidence “what Google was for the Internet” — but for healthcare.

It may sound like a big claim, but with 430,000 doctors already signed up (that’s 40% of U.S. physicians) and new ones joining at a rate of 65,000 per month, it’s starting to sound a little less like hype and more like inevitability.

Why This Matters for AI Stocks

Currently, we’re watching the rise of a new generation of vertical-specific AI companies that are attacking huge real-world problems and generating revenue doing it.

Healthcare is one of the most promising frontiers for this. Between shortages of medical professionals, exploding research output, and the push for personalized care, the demand for AI-based decision tools is soaring. And OpenEvidence shows that this demand is translating into dollars.

If you’re following AI stocks like Nvidia (NVDA), Microsoft (MSFT), or Palantir (PLTR), keep in mind: their growth increasingly depends on the success of startups like this. OpenEvidence runs on top-tier hardware and leverages foundational AI platforms. Every hospital that adopts it pushes more demand into the AI ecosystem, especially for chips, data services, and cloud compute.

A Business Model Doctors Actually Love

Unlike most enterprise software that requires hospital IT departments and a small army of procurement approvals, OpenEvidence is free for doctors and available on demand. That viral loop means it’s scaling like a consumer app, but inside the highly regulated medical world.

Moreover, OpenEvidence generates revenue primarily through advertising, with pharmaceutical companies making up the bulk of its current ad base. The results are already showing. OpenEvidence is bringing in an estimated $50 million in annualized ad revenue. On top of that, the company says it has more than $350 million worth of available ad inventory.

While this model might raise questions in a healthcare context, CEO Daniel Nadler is clear about his stance. He views it similarly to Google’s (GOOGL) approach. The key is building a product that doctors genuinely want to use every day. Once that engagement is in place, monetization becomes much more effective.

A New Kind of AI Stock?

OpenEvidence isn’t public yet, but the momentum is unmistakable. As it continues to grow, there’s a good chance it’ll end up on the radar of major healthtech players or even go public itself. If that happens, expect it to join the ranks of AI-fueled IPOs that could define the next bull cycle.

But even before that, its success is a flashing green light for investors watching the broader AI-in-healthcare space. Names like Intuitive Surgical (ISRG), Teladoc Health (TDOC), and Butterfly Network (BFLY) could all benefit from the same rising tide of AI adoption across medicine.

And for the big players behind the scenes — Nvidia, Amazon (AMZN) Web Services, Google Cloud — more OpenEvidences means more demand for compute, storage, and specialized silicon.

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