Latest news with #DanielNadler
New York Post
2 days ago
- Business
- New York Post
An AI founder spent $38.2M for a Florida penthouse — because he predicts values will soar in the future
Daniel Nadler, founder of the Google-backed medical AI company OpenEvidence, has purchased a $38.2 million triplex penthouse at the Surf Club, Four Seasons Private Residences in Surfside, Florida, marking his first real-estate acquisition in the US. The deal closed off-market, with Nadler paying cash for the fully furnished, oceanfront residence, according to the Wall Street Journal. The roughly 6,000-square-foot home includes five bedrooms, some 2,000 square feet of terrace space and a rooftop deck with an infinity-edge pool overlooking the Atlantic. 8 Daniel Nadler, the 42-year-old tech entrepreneur behind Google-backed medical AI startup OpenEvidence, has paid $38.2 million in cash for a triplex penthouse at the Surf Club, Four Seasons Private Residences in Surfside, Florida. dbox 8 Previously living in the hotel to simplify his life while building his $3.5 billion company, Nadler was drawn to the idea of a permanent residence there after learning units were for sale. The development, as seen in this rendering, offers posh settings. The Four Seasons 'It actually just feels almost like one of those Venetian palazzos, but in the sky,' Nadler told the Journal. The seller, an entity tied to Claire and Anthony Florence, had acquired the property for $29.35 million in 2022, according to public records. They could not be reached for comment. Ximena Penuela of Fort Realty handled both sides of the transaction. Nadler, 42, moved to Miami earlier this year and had been staying at the adjoining Four Seasons Hotel, which made its heralded opening there less than a decade ago. 'I didn't want the overhead of dealing with houses and all of the stuff that comes with houses,' he said. 'If I could wake up at 4 a.m. and just order room service — this is so perfect.' 8 The roughly 6,000-square-foot, five-bedroom home — with 2,000 square feet of terraces and a rooftop infinity pool — wasn't publicly listed when he snapped it up. But as this rendering shows, residents at the development live quite large. CHRISTIAN HORAN PHOTOGRAPHY 8 Calling it 'a Venetian palazzo in the sky,' Nadler said he sees the property appreciating significantly. dbox 8 Nadler bought the residence, filled with amenities, from Claire and Anthony Florence, who had purchased it for $29.35 million in 2022. dbox The idea of living in a hotel, he added, was partly inspired by inventor Nikola Tesla, who spent his final years residing in a New York hotel. 'It sounds completely insane, but there's precedent,' Nadler said. The penthouse was not publicly listed when it caught his attention, but Nadler said he was eager to move quickly. 'I wanted to pounce on it,' he said, believing the property will appreciate substantially. 'Whatever I paid, I think it will be double that in five years.' 8 Originally from Canada, Nadler also co-founded Kensho Technologies, which sold for $550 million in 2018. Daniel Nadler/LinkedIn 8 Nadler sees Miami's business-friendly climate and hotel-like amenities — including room service — as key drivers of the market. CHRISTIAN HORAN PHOTOGRAPHY 8 The deal marks his first US real estate purchase, and he stands to get quite the treat. As for negotiations, Nadler said there were none. 'He said that's what he wanted, and I said OK.' Originally from Canada — as is the Four Seasons brand — Nadler co-founded Kensho Technologies, which sold for $550 million in 2018. His current venture, OpenEvidence, is valued at $3.5 billion. OpenEvidence was created to help physicians efficiently sort through a copious amount of medical research information. Nadler said he was drawn to Florida's pro-business climate and is bullish on the Miami market, which he believes will be reflected in future property values.
Wall Street Journal
5 days ago
- Business
- Wall Street Journal
AI Founder Pays $38.2 Million for Beachfront Miami-Area Penthouse
This spring, 42-year-old tech entrepreneur Daniel Nadler gave up his Miami rental apartment and moved into a beachfront hotel. The goal was to streamline his life and focus on building OpenEvidence, his Google-backed medical AI company, which is valued at $3.5 billion. 'I didn't want the overhead of dealing with houses and all of the stuff that comes with houses,' he said. 'If I could wake up at 4 a.m. and just order room service—this is so perfect.'
Forbes
16-07-2025
- Health
- Forbes
InnovationRx: Hawley, Who Voted To Slash Medicaid, Introduces Bill To Reverse Cuts
In this week's edition of InnovationRx, we look at new legislation that could undo recently-passed Medicaid cuts, how Daniel Nadler became a billionaire building a ChatGPT for doctors, big news from two Chinese biotech companies, what doctors think about AI and more. To get it in your inbox, subscribe here . Senator Josh Hawley Getty Images Y esterday, Senator Josh Hawley, R-Mo., who voted to slash Medicaid with Trump's 'Big, Beautiful Bill,' introduced a new bill in the Senate, the Protect Medicaid and Rural Hospitals Act, that aims to undo many of those cuts. It also calls for increasing financial support for rural hospitals and healthcare providers to $100 billion from $50 billion and to extend the term of that support to ten years from five. The Republican cuts to Medicaid and the Affordable Care Act would leave nearly 12 million Americans without health insurance by 2034, according to the nonpartisan Congressional Budget Office. The recently passed bill cuts Medicaid spending by more than $1 trillion over the same period–an unprecedented amount–threatening the financial stability of hospitals that have a substantial number of Medicaid patients. Hawley's bill calls for eliminating a moratorium on taxes on providers, which states often use to finance their share of Medicaid programs. It also would repeal provisions of the Trump legislation that would potentially enable states to reduce Medicaid reimbursements to hospitals. 'I want to see Medicaid reductions stopped and rural hospitals fully funded permanently,' Hawley said in a statement. Trump signed the 'Big, Beautiful Bill' into law on July 4 after Republican leadership wrangled support for it, including from Hawley. Mauricio Candela for Forbes F or doctors trying to stay abreast of the latest medical breakthroughs, reviewing the latest research is like being shot in the face with a water cannon. A new paper is published every 30 seconds. Trying to comb through it all to come up with a diagnosis or treatment plan that reflects the best current options while seeing 20 patients a day is a near-impossible task. 'There is this enormous firehose of information they need to stay on top of, and the human brain is limited in its capacity to read millions of studies,' Daniel Nadler, cofounder and CEO of OpenEvidence, told Forbes. So Nadler, 42, a Harvard Ph.D. who sold his previous company for $550 million back in 2018, set out to solve the problem with artificial intelligence. Now, the startup's proprietary algorithms search millions of peer-reviewed publications, including in top journals like the New England Journal of Medicine and the Journal of the American Medical Association, to help doctors find the best answers fast, with full citations to papers so doctors can read more for themselves. The software is free for verified doctors to use and makes money through advertising–much like Google does. Since its founding in 2022, Miami-based OpenEvidence has signed up 40% of doctors in the United States, or more than 430,000, and is adding new ones at a current rate of 65,000 per month. Its revenue from advertising is now coming in at an annualized rate estimated at $50 million. That's not huge, but thanks to the software's rapid adoption, investors are betting big: OpenEvidence has raised $210 million led by GV (Google's venture arm) and Kleiner Perkins at a valuation of $3.5 billion, up from $1 billion at its last financing in February. The new investment makes Nadler, who owns roughly 60% of the company, a billionaire, with a net worth that Forbes estimates at $2.3 billion. Cofounder Zack Ziegler, the company's 30-year-old chief technology officer, owns some 10% of the business, worth about $350 million. Nadler was able to hold on to such a large stake by being its first seed investor, putting in some $10 million of his own money before raising any VC funding. 'One of the great things about being a second-time entrepreneur is, I'm not an idiot,' Nadler said. 'I think the second thing is going to be bigger than the first so maybe the first $10 million should come from me. That's by far the smartest financial decision I made in my life…..I wanted to bet on myself.' Read more here. BIOTECH AND PHARMA Hong Kong-based Akeso has notched impressive results for its cancer drug ivonescimab against Merck's blockbuster Keytruda for patients with non-small cell lung cancer. It gained approval for these patients in China in April, and the company announced today that it has begun clinical trials of the drug for colorectal cancer patients. That pushed the stock up 115% for the year, giving Akeso a market cap around $14 billion. That makes the company's founder and CEO, Michelle Xia, a billionaire with a net worth of around $1.2 billion. Forbes profiles Xia today. Plus: Kailera Therapeutics and China's Hengrui Pharma announced positive phase 3 results for their lead injectable obesity drug, which works similarly to Lilly's treatment tirzepatide, in overweight or obese individuals in China. The drug showed mean weight loss of 19.2% with no plateau at a dosage of 6 mg in a 48-week trial. On the strength of these results, the companies said they are preparing for a regulatory submission in China, while continuing global clinical trials. DIGITAL HEALTH AND AI More than half of doctors and nurses are concerned that patients are self-diagnosing and getting wrong information because of AI, according to a new survey by academic publisher Elsevier. Despite their concerns over misdiagnosis, clinicians still think AI tools hold promise for making their own lives easier, especially for administrative tasks. But only one-third of the survey's respondents said their workplaces provided adequate access or training for the technology. PUBLIC HEALTH AND HOSPITALS A new study from UCLA found that small-group coaching can reduce rates of physician burnout by nearly 30%, suggesting that it's more effective than traditional (and more costly) one-on-one help. Nearly half of physicians in the U.S. are suffering from burnout, which can lead to mistakes in treating their patients. Burnout is also estimated to cost the healthcare system $4.6 billion a year, largely in costs associated with physician turnover and fewer clinical hours. The study was published in the peer-reviewed Journal of General Internal Medicine . WHAT WE'RE READING RFK Jr. claims doctors profit off vaccines. In fact, many lose money on them. Federal officials said they'd disclose conflicts of interest information for the seven new members of the vaccine advisory committee before its late-June meeting. They haven't done so yet. An elite rehab center is using GLP-1 weight-loss drugs to help treat addictions of all kinds. At for-profit rehab hospitals, where people go to recover from major surgeries and injuries, even grave errors go undisclosed and unpenalized. 23AndMe cofounder Anne Wojcicki's non-profit organization TTAM Researcher Institute closed on its purchase of the company this week after winning a $305 million bid in June. Researchers at Tel Aviv University have developed an mRNA vaccine that protects against the bacteria that causes plague. The recently passed lifetime cap on federal student loans threatens to lower medical school enrollments. MORE FROM FORBES Forbes Waymo Vets Are Automating Construction Sites With Self-Driving Dirt Diggers By Alan Ohnsman Forbes Why Ramaco Says It Can Beat Its Government-Backed Rival For Rare Earth Supremacy By Christopher Helman Forbes Trump 'TACO' Tracker: Here Are The President's 28 Tariff Flip-Flops By Alison Durkee
Time Magazine
08-05-2025
- Health
- Time Magazine
Daniel Nadler
Daniel Nadler launched OpenEvidence—a medical information platform that's like ChatGPT for doctors—because of a happy problem in medicine. In 1950, the rate of medical knowledge doubled every 50 years. Today, it doubles every five years. 'The reason is a great reason, which is the golden age of biotechnology,' says Nadler, an artist, poet, and tech entrepreneur who became interested in positive uses for AI while working in machine learning. But it means doctors need to keep up with an overwhelming amount of information, such as clinical trial results and new treatments. Staying on top of it all is "basically impossible.' He's calculated that at least one new medical paper is published every minute, and if doctors read only the new evidence in the top 10 journals, it would still require nine hours of their day. 'You would literally never have time to see patients,' he says. 'Most doctors don't do that, and they miss new findings.' Enter OpenEvidence, an AI-powered search engine that sifts through thousands of peer-reviewed studies in real time. Nadler describes it as a 'brain extender' for clinicians. Many report using it to make high-stakes clinical decisions, like analyzing new treatments and figuring out which makes the most sense for a patient. To determine if a just-approved psoriasis drug is safe for a pregnant patient, for example, doctors would 'need to go fairly deep on the data.' By searching OpenEvidence, however, that information will be quickly and succinctly aggregated, at their fingertips before the patient leaves the office. In February, OpenEvidence signed a content-use agreement with the New England Journal of Medicine, which grants it permission to use all of the journal's findings from 1990 on. Nearly 30% of doctors in the U.S. currently use the tool, Nadler says; more than 50 million patients will be treated this year by a doctor using OpenEvidence. It can be especially valuable in rural areas, allowing doctors to access the kind of expert guidance that would otherwise be scarce. 'This is a very different type of medical innovation or medical revolution,' he says, 'because we've very quickly reached across the country to the middle of the country, to the health care deserts, to the health care islands, to the fringes and edges of health care.'
Yahoo
22-02-2025
- Business
- Yahoo
Tempus AI, Inc. (TEM) Secures $300 Million to Fuel Ambry Genetics Acquisition
We recently published a list of . In this article, we are going to take a look at where Tempus AI, Inc. (NASDAQ:TEM) stands against the other AI stocks in news and ratings you should not miss. On February 19, CNBC reported significant funding rounds for multiple AI-focused startups, highlighting the quick expansion of AI innovations across industries like healthcare, cloud computing, and model deployment. Baseten, a San Francisco-based company founded in 2019, raised $75 million at an $825 million valuation to improve its AI model deployment services. Using cloud infrastructure from Amazon and Google, Baseten helps clients access GPUs for AI inference, reducing costs by over 40% while supporting the cost-effective DeepSeek-R1 reasoning model. Its revenue increased sixfold in the last fiscal year, and its clients include over 100 enterprises and companies such as Descript, Patreon, and Writer. OpenEvidence, an AI health-tech startup in Cambridge founded by Daniel Nadler, raised $75 million from Sequoia, bringing its valuation to $1 billion, as per CNBC. The company's AI chatbot, trained on data from The New England Journal of Medicine and peer-reviewed journals, assists doctors with clinical decisions and is already used by a quarter of U.S. physicians. The chatbot avoids inaccuracies through tailored training and has grown rapidly due to word-of-mouth recommendations among doctors. OpenEvidence will also use its new funding to establish partnerships, including one with NEJM Group, and Nadler views the company as a solution to doctor burnout and the projected physician shortfall. Lambda, a cloud computing firm specializing in AI development, raised $480 million in a Series D round co-led by Andra Capital and SGW, reaching a $2.5 billion valuation and total funding of $863 million. Lambda rents out Nvidia GPU-powered servers and offers software to train and deploy AI models, including open-source ones like DeepSeek-R1. CEO Stephen Balaban highlighted Lambda's ability to repurpose its 25,000 GPUs for open-source AI models, which has fueled demand for H200 chips. The company will use the funding to expand its GPU inventory and further develop its software, including its Model Inference API and Chat AI Assistant. Lambda is positioned to meet the surging demand for AI infrastructure and is serving over 5,000 customers across industries such as manufacturing and finance, For this article, we selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of their hedge fund sentiment taken from Insider Monkey's Q4 database of over 1000 hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (). Copyright: nexusplexus / 123RF Stock Photo Number of Hedge Fund Holders: 17 Tempus AI, Inc. (NASDAQ:TEM) provides healthcare technology solutions, including diagnostic testing, clinical trial matching, data analytics, and AI-driven platforms for healthcare and pharmaceutical industries. On February 19, Tempus AI, Inc. (NASDAQ:TEM) secured $300 million in additional debt financing from Ares Management's Credit funds to support its acquisition of Ambry Genetics, finalized on February 3, 2025. It brings Ares' total funding for Tempus to approximately $560 million since 2022. Tempus uses AI and data-driven technology to improve clinical care and research and the management emphasized that this investment will help drive innovation in precision medicine. The company views the funding as crucial for advancing its technological solutions and improving patient outcomes across oncology, cardiology, and other medical fields. Douglas Dieter, Dr.P.H., Partner in the Ares Credit Group commented: 'Over the last two years, we've been impressed by the Tempus team's execution of its growth strategy and complementary acquisition of Ambry, and we look forward to further supporting their efforts in AI-enabled solutions that help advancements in medicine.' Overall, TEM ranks 7th on our list of the AI stocks in news and ratings you should not miss. While we acknowledge the potential of TEM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than TEM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
