OpenEvidence’s reported $12 billion valuation reflects rapid clinical adoption of its doctor‑first AI medical search tool, which the company says is used regularly by more than 430,000 clinicians and has driven targeted pharmaceutical advertising to a revenue run‑rate above $100 million. The company couples clinical scale with ad monetization to attract investor interest. The funding signal spotlights investor appetite for AI platforms that embed directly into clinical workflows. The model also raises questions for pharma commercial teams about platform governance, advertising transparency and potential regulatory oversight of medical AI tools that monetize clinician attention.