OpenEvidence reached a reported $12 billion valuation as investors rewarded rapid clinician adoption of its AI medical search tool, which the company says is used regularly by more than 430,000 clinicians. The startup has paired a doctor‑first product with targeted pharmaceutical advertising and claims a revenue run‑rate north of $100 million. Coverage framed the valuation as a marker of investor confidence in clinician‑facing AI, while questioning sustainability and regulatory scrutiny of pharma‑linked monetization. The company’s growth underscores demand for point‑of‑care knowledge tools but also raises questions about ad models and independent clinical decision support. OpenEvidence’s scale will test whether clinician workflows, regulatory guardrails and payer dynamics can coexist with aggressive commercial expansion.