AI Startups To Watch

Artificial intelligence is creating one of the largest infrastructure buildouts in technology history.

The first wave of winners has been obvious: companies that make advanced chips, build massive data centers, and provide the cloud platforms needed to train and run AI models. McKinsey & Company has estimated that global data center expenditures could exceed $5 trillion by 2030, underscoring the scale of the opportunity.

But the next phase of AI may be just as important. As the infrastructure layer expands, smaller private companies are building the applications, workflows, security tools, data systems, and research platforms that turn may raw computing power into business value.

Here are four companies AMG is watching:

1. Ivo uses AI to help enterprise buyers review and manage legal contracts with speed, accuracy and consistency. The company recently announced a $55 million Series B financing round and has grown nearly 600% over the past year. Its customer base now includes major companies such as IBM, Intel, Uber, Meta, Mitsubishi Electric, Shopify and Pinterest.
2. Assured is applying AI to insurance claims, a large market still burdened by manual processes and fragmented data. Its platform captures claims information from a smartphone, structures the data, and helps carriers process claims across auto, homeowners, commercial property, and workers compensation lines. Assured recently raised $23 million in Series B funding at a $1 billion valuation.
3. Invisible Technologies provides an operational layer for AI-powered workflows, combining automation with human expertise where judgment and nuance still matter. Its customers include Microsoft, AWS and Cohere. Invisible Technologies raised $100 million in capital last September, valuing the business at more than $2 billion.
4. Noetik shows how AI is also reshaping medical research. The company uses machine learning to discover and develop cancer immunotherapies and help researchers predict which therapeutic targets may work for specific patient groups. In January, Noetik announced a $50 million licensing agreement with GSK covering cancer research foundation models.