The pace of innovation or investor appetite for good morning AI companies certainly hasn’t cooled this year.
good luck released its second annual Fortune 50 AI Innovators list on Wednesday. It highlights the AI companies that are leading the way in this new phase of technology adoption. good luck Cast a wide net, looking at companies of all sizes from around the world.
Well-known AI startups like OpenAI and Anthropic, which saw their valuations rise this year, made the list. Some of the biggest tech companies on the list include Microsoft, Salesforce, Google DeepMind, Chinese e-commerce juggernaut Alibaba as well as Adobe. And Nvidia—whose chips provide the AI horsepower for many of these big projects—took a similar spot.
Speaking of the chipmaker, it reported Wednesday that for the third quarter ended Oct. 27, its revenue was $35.1 billion, up 17% from the previous quarter — and up from a year ago. I have 94% more. “AI is changing every industry, company and country; enterprises are embracing agentic AI to revolutionize workflow,” Nvidia founder and CEO Jensen Huang said in an earnings statement.
This past quarter, Nvidia celebrated the 25th anniversary of its GeForce 256, the world’s first graphics processing unit (GPU), Nvidia CFO Colette M. Kress said on the earnings call. “Nvidia’s GPUs have been the driving force behind some of the most productive technologies of our time,” Kreis said.
The list of Fortune 50 AI Innovators also represents startups such as voice-cloning tech company ElevenLabs, French AI chatbot upstart Mistral, China-based AI company ModelBest, and biotechnology company Xaira Therapeutics — all less than three years old. are
“2023 was really the year for industry and businesses to wrap their heads around AI,” said James Diet, Head of Platform Sales at OpenAI. good luckJohn Cale in an interview. “2024 is the year we’re starting to see real-scale deployments of our technology,” Diet said.
In his latest piece, Kiel noted that corporate partnerships between AI vendors and corporate customers have exploded this year, such as OpenAI’s deals with biotechnology company Moderna and financial giant Morgan Stanley. “Similar deals have helped lift OpenAI’s valuation to $157 billion, most recently raising $6.6 billion in a huge funding round in October, nearly doubling the company’s value from nine months ago. Done,” he writes.
One of the healthcare companies on the list is Insilico Medicine. This comes as the healthcare sector is positioned to benefit from AI in areas such as high costs, administrative complexity, staff shortages and ultimately clinician burnout. As Kell notes, research shows that “AI could create $370 billion in value for healthcare by accelerating drug discovery and development and more accurately matching patients with potential treatments. can.”
You can read more about the new phase of AI here. See the full list of Fortune 50 AI Innovators here.
Cheryl Estrada
sheryl.estrada@fortune.com
The following sections of CFO Daily were produced by Greg McKenna..
Leaderboard
Glen Eisenberg will retire as CFO of Lab Corp (NYSE: LH), a laboratory services company, effective Dec. 2. After 10 years in that role, he will remain with the company as a special advisor to the CEO until April 2025 to help with the transition. He will be replaced by Julia Wang, who will also serve as an executive vice president. He most recently served as CFO of global oncology company BeiGene, now known as BeOne Mediciones.
Steve Rashi will step down as EVP and CFO of the natural gas company. Spire (NYSE: SR), effective Jan. 1. Rasche, who joined the company in 2009 and became CFO in 2013, will continue to serve as a senior advisor until his retirement on April 1. He will be replaced by Adam Woodard, who has held the position of VP and treasurer at the company since 2018 and also became CFO of Spire’s utilities business a year later.
Big deal
CFOs consider AI adoption a higher priority than financial transformation next year, according to a new study Survey 251 finance chiefs by research and consulting firm Gartner. Those polled identified metrics, analytics and reporting as their top focus areas for 2025, while other key issues included managing talent and raising the leadership profile of the CFO role.
The survey showed the highest number of CFOs prioritizing enterprise growth since 2014, said Dennis Gannon, vice president of research in Gartner’s finance practice. “Significant returns to growth and cost pressures mean that many CFOs are planning to be ruthless about finance transformation.”
Go deeper
“Arnold Schwarzenegger Joins Fortune 500 Company to Solve Generation’s Biggest Problem,” a new good luck The article, by Lindsey Leake, discusses how the actor and former governor of California is back with a new direction—joining the C-suite of a medtech firm that uses AI and robotics to transform the world. The first robotic-assisted shoulder replacement surgery has been completed.
Heard.
“[It] It shows the momentum and appreciation people have for the brand, and how well our food and our value proposition is resonating with modern consumers and meeting the moment.”
– Bret Shulman, CEO of Kava, told good luck In an interview about why “Mediterranean Chipotle” and other fast-casual chains are among the hottest stocks on Wall Street this year.
