My mission is simple: to make you money. I'm here to level the playing field for all investors. There's always a bull market somewhere, and I promise to help you find it. Mad Money starts now.
Hey, I'm Cramer. Welcome to Mad Money. Welcome to Cramer, my friends. I'm just trying to make you some money. My job is not just to entertain, but to educate you. So, call me 1-800-743-CBC. Tweet me at Jim Cramer.
Micron, welcome to the trillion dollar club. You make the best high bandwidth memory chips, the kind that go into the data center. No wonder its market cap touched a trillion dollars today, up more than 200% so far this year, including a 19% gain just today on a very bullish research note about its 40-year prospect. Micron is now the 10th largest company in America, part of the most emotional, exciting bull market in history.
Although not that much today, Dow dipped 118 points, but the S&P advanced 61% and the NASDAQ, filled with semiconductors, gained 1.19%.
Micron's one of many semiconductor companies that have been knocking on the trillion dollar door. It caught fire this time because memory was always a boom and bust business, but this time the boom seems unrelenting. It's run by the contemplative Sanjay Mehrotra, no stranger to our show, of course. He's self-effacing and low-key. I know I've been far more promotional than he has about Micron's prospects. In the end, it's been a monumental transformation, which is why some analysts say Micron's still cheap at these prices. And there's a rigorous case to be made that that's true.
And look, it's not easy breaking into this trillion dollar club. Why don't we do this? Let's look at the other 10 members. So, you know, let's start with the world's largest company, and that is, yes, Nvidia. It reported a fabulous quarter last week, yet its stock went down anyway. The King has indeed begun to underperform when it reports; it's traded lower on earnings the last four quarters. Imagine. But then it performed strongly intraquarter, although in a red hot semiconductor market, Nvidia is only up 15% for the year.
It's got the best AI technology. That's no longer enough. I believe the company needs to pivot its cash management strategy more toward Apple under previous CFO Luca Maestri, where it bought back a huge amount of stock while boosting its dividend consistently. Back then, Apple shrank its share count by a third. Now, Nvidia may be on that path already. They announced a 25-cent dividend. That's 25 times the previous one. And that's a quarterly dividend. And they added $80 billion to its buyback authorization. I think they may need to say that this is the new normal. Otherwise, they might not be able to attract enough new buyers.
It should also trim some of the biggest winners in its stock portfolio for additional firepower. Worst case scenario, if all the major accounts already own Nvidia stock, that's what I keep hearing, then the company ends up buying it by itself. I think that is a fabulous use of capital.
Next member of the club, Alphabet. Oh, there's a lot to like here. YouTube, the largest video company in the world. Waymo, the number one self-driving car. Its search, including Google and Gemini, and Google Cloud, which is the best horse that I want to bet on. Multiple revenue streams, higher price. Look out.
Invidia, third. Apple, okay, it's got the best hardware, is now snared one of the best AI platforms with Gemini, the logical extension of Google, which pays Apple a fortune, by the way, to be the marquee search product. Now, Apple was thought to be behind in AI. Let me ask you: for all the stuff that you read in the papers, did you ever switch your handset to another company because of that? Of course not. Now they have a very smart Siri that's getting smarter and smarter. Nothing comes out of Apple unless it's near perfect. Lately that's been paying off with an ever higher stock price and a lot of acclaim. Now here's a tough one.
This softy Microsoft, it has terrific cloud business, but it's weighed down by enterprise software and Wall Street disdains its AI product Copilot. So then why does my charitable trust still own it? Did I go to college to get stupid? Hardly, because we simply cannot believe that Microsoft won't fix things. It has so much money. It has so many smart people. I have to believe they can figure it out. If they can't, then the stock will have to go. Something we will discuss tomorrow at our noon call for CNBC Investing Club. Hey, by the way, I hope you join us. The club's got this great four buck deal. It stands till tomorrow afternoon. Come, will you just join?
Number five, Amazon, misunderstood even by me. Now, I've become a, you know, I'm a huge believer of this one. They've been cleaning up with Prime, with Amazon Web Services, with advertising, and now with semiconductors, which could be a $50 billion standalone business. Thank you, Andy Jassy, CEO, for explaining to me. Now, last week, I said that Amazon's own chips don't hold their value, unlike Nvidia. I got that wrong. The new chips actually most certainly will hold their value for several years. Pretty similar to Nvidia, but for a lower price. Got to point it out. I think that's one reason why Nvidia stock has actually stalled while Amazon stock has been going ever higher.
Six is Broadcom. Now, this is a sleeper because you don't see its name anywhere. It makes custom chips for Google, Meta, ByteDance, Anthropic, which buys Google's chips, too. Broadcom also has its own enterprise software business called VMware, Gateway to the Cloud, among other things. CEO Hock Tan is a shrewd businessman who constantly gets new clients. He's a big reason why we've stuck with Broadcom thick and thin for the Travel Trust, racking up some big gains.
Seven is Tesla. When we think of Tesla, we think of cars, but really we should be thinking about self-driving vehicles and robots, which will be the big growth engines. Lots of people think that Elon Musk will merge his company with a soon-to-come public SpaceX, where he has a dual class structure that would allow him to break away from the noisome, unhappy Tesla shareholder base. I don't blame him if he doesn't. The next two companies need to worry about keeping their trillionaire status and staying in the top 10.
There's Meta Platforms and Berkshire Hathaway. Now, we just aren't sure what Meta is doing beyond Facebook, Instagram, eyeglasses, AI, WhatsApp. Now, that's actually a pretty powerful suite of products. Not saying that, but the company has not excelled in a visible way, at least not in a way that makes it seem like it's printing money the way it used to. We know they're spending on a lot of talent. We know that they've been able to pull multiple rabbits out of multiple hats, but we're in a 'what have you done for me lately' business. And the answer here is not a hey.
Bob, pulling up the rear is an insurance and reinsurance company with a very solid leader who has a lot of other good properties, much in oil and gas and a railroad. That is at last what Berkshire Hathaway really comes down to. Now that Warren Buffett has stepped down, people are going to get bored with owning this stock, and the only thing that's really going to keep them in there is that they don't want to pay the capital gains tax when they ring the register. That's what you have to do. I like the mosaic of businesses, but a lot of people are in this stock because they believe in Buffett. So they might actually want to retire along with him.
Upon the 11th largest US company. Holy cow, it's smaller than Micron, but still just over one trillion. Eli Lilly, the drug maker, had seen huge growth at scale in recent years because of the strength of the GLP-1 drugs for diabetes and weight loss. But as good as it's been, the Lilly story somehow continues to improve. Last week, we learned that it's got this new weight loss drug. It's called retutide, retatide, which was very effective in phase three trials. Seems to be able to bust fat, not muscle, although that's not what the company is hailing or claiming. And over the weekend, a separate gene therapy treatment showed great data when it comes to reducing cholesterol. Now, there's a reason this is the only healthcare company to earn a trillion dollar valuation. Brilliant management.
Now, I left out the foreign stocks, but let me mention them if you want to think about the whole world. I'll help you realize something that's controlling much of the movie here. Now, Saudi Aramco goes number eight on the broader list. All right? But Taiwan Semi's fifth. Samsung is number 11. SK Hynix is number 15. Taiwan Semi, Samsung, SK Hynix are all semiconductor plays.
Pleasure. Like Micron, like Nvidia, like Broadcom, even like Amazon. In the world of AI, Wall Street's fallen in love with hardware just like software. Like the one stock, the once red hot stock of Zscaler, which disappointed this furry evening.
Meanwhile, we've got three big IPOs coming this year that could potentially join the club right out of the gate. There's SpaceX, Anthropic, and OpenAI. More on SpaceX later. What's the real takeaway here? The bottom line is that we're on the verge of a new era where I think the trillion dollar club may be a heck of a lot easier to join than in the old days when the club excluded the riff raff. AI has changed the order of things. No, it's not being debased. It's just becoming more inclusive as it should be. Robert, New York. Robert, Jim.
Jim, I have some very good news that today I joined the investment club. I went to CNBC.com and I don't have to because I have access to you on the phone, but you got to have constant access to Jim Cramer because this guy has picked... I've joined at CNBC.com. They have a great special. Everybody in America's got to get...
Holy Robert. Robert from New York is like, 'How much does we do not pay Robert?' No. No. None of you, right? How much any of you pay? No. Nobody pays him.
Zero. Well, I love speaking with you, Jim, and I love having... I know we're pressed for time.
Anyway, let's go. Let's make money together.
This next company, Nex Company's one of the biggest home builders in the country. They focus on luxury residential properties, including single family homes, upscale condos, and active adult communities. I still own it. I think it's a solid company. I'm not, you know, crazy right now with the interest rates. Toll Brothers.
Oh my god. Did you see Doug Yearley, executive general last week, man? He's got it all figured out.
I think he's doing a terrific job. You know, I'm not done taking questions. Although, they can't be as abusive as Robert was. Actually, I am done. And we're really abusive as Robert is. All right. I think Micron's entrance into the trillion dollar club is the sign of the new era we're in because AI has changed the old order of things. Now, tonight, SpaceX, you ask, I deliver. Set to come public next month. I'm breaking down everything you need to know about the company, starting with its financials. Then I'll do a deep dive into SpaceX's growth opportunities before I share where I come down on the company ahead of its IPO. And a bridge just named the CNBC Disruptor 50 list for the second year in a row. I'm learning more about what the company has to offer from its CEO, and I hope your doctor uses it. I want you to stay with Cramer.
Don't miss a second of Mad Money. Follow Jim Cramer on X. Have a question? Tweet Cramer #madmentions. Send Jim an email to
[email protected] or give us a call at 1-800-743-CNBC. Miss something? Head to madmoney.cnbc.com.
Last week we got our hands on the SpaceX IPO prospectus and it's important read with the rocket and satellite company looking to come public in a little over two weeks, June 12th. I've told you repeatedly that I'm worried about the mega deals on the horizon, SpaceX as well as OpenAI and Anthropic, any one of which would previously have been the largest IPO in history and would certainly put these companies within the top 10 I just talked about. My main fear is that they will suck all of the money out of the rest of the market, causing weakness throughout. But in the end, these companies deserve to be judged on the merits. And that's why tonight I want to go over SpaceX financials. Then after the break, I'm going to zoom out and give you the big picture bull thesis that's got Wall Street so excited about this one.
Full disclosure, the numbers here are not very impressive, especially when you consider the kind of valuation this company's already getting. SpaceX has gotten complicated over the years. In addition to the rocket business, they've got Starlink for satellite internet and Elon Musk's AI platform XAI, which also owns the social network formerly known as Twitter. SpaceX's revenue has grown from 10.4 billion in 2023 to 14.0 billion in 2024 to 18.7 billion last year. In the first quarter this year, it's posted just 15.4% revenue growth, though, and that's a major deceleration from last year. That's not much revenue for a company that's eyeing a $2 trillion market capitalization. Or even if people go nuts for this one, it'd still be difficult to get there.
If you just look at the last 12 months, SpaceX sales falls somewhere in between Dollar Tree, that's an $18 billion company, and Ameriprise Financial, a $41 billion company. At $2 trillion, SpaceX will be trading at roughly 100 times trailing 12 month sales, which is crazy expensive, even as a lot less prosaic than the two companies I just mentioned. Then there's the question of profitability. Using the strictest GAAP numbers, SpaceX is currently losing money. They had an operating loss of 1.9 billion in the first quarter and net loss of $4.3 billion.
However, using the more charitable earnings before interest, taxes, depreciation, amortization numbers, which is standard for a capital intensive business like SpaceX, then you get a better story. This company is putting up tremendous EBITDA growth for the last few years, but in the first quarter of this year, this profitability metric was down nearly 35% versus the previous year.
Of course, this is an inherently lumpy business. It's made some big acquisitions. So, it's really hard to tell how much we should read into the recent EBITDA shrinkage. What else? Even though SpaceX has a pretty clean balance sheet, one that should be pristine after it raises 60 to 80 billion in the IPO, it's also burning cash like a drunken sailor. The company's free cash flow has gone from slightly positive in 2023 to down 5.4 billion in 2024 to down 14 billion last year. And in the first quarter, their free cash flow came in at negative 9.1 billion. That is downright hideous. Certainly going in the wrong direction.
Why? Because SpaceX is investing heavily in AI infrastructure and its Starship launch program. The real question is whether those investments are worth the cost. So let's do this. Let's take each part of the business separately. The space division is SpaceX's bread and butter, basically using reusable rockets to offer four higher launches to both the government and to the private sector. The connectivity business is Starlink. Think satellite internet service available even in the most remote locations on Earth. Finally, the last business segment is AI, which includes XAI's compute infrastructure as well as the company's AI model Grok and, of course, X, the platform formerly known as Twitter.
The space segment has been able to steadily grow its mass to orbit over the past couple years. That's the amount of weight it's physically bringing into space. Last year, SpaceX represented 80% of global mass to orbit transportation, and it's still growing steadily. Very positive. There are two things that we're watching for the space business. First, its revenue growth seems to be slowing a bit. For the last few years, it's grown at a high single-digit clip. And in the first quarter this year, it was down 28%. Again, this is a lumpy business. Second, the space division has taken a turn for the worse in terms of profitability. Their EBIT was nearly cut in half last year and it came in negative during the first quarter of 2026 thanks to the cost of their Starship program test flights.
Next, there's Starlink. Okay, now this is by far the most attractive part of the SpaceX mosaic, at least at the moment. The number of Starlink subscribers has more than quadrupled just since 2023. Connectivity revenue was up 50% last year and in the first quarter this year it was up 32%. That's all from subscriber growth. Most importantly, the profits from the connectivity segment have steadily grown, including 29% EBITDA growth in the latest quarter. While that's a slowdown from last year's 86% clip, it's still pretty impressive.
Starlink's the engine that powers all of SpaceX as the company invests heavily in AI and space exploration. You could argue that when you buy SpaceX, and this is really important, you got to know this, you're getting Starlink and then a bunch of money losers that may or may not pay off in the future. I'm trying to be stark here. I'm trying to be really clinical. Finally, speaking of money losers, there's the AI segment. Right now, it's a money pit. SpaceX did get $3.2 billion in revenue from the AI business in 2025, up 22% year-over-year, and it had 13% revenue growth in the first quarter, nearly all of which is either from selling ads on X or selling subscriptions. But the bigger story is that the losses have ballooned for XAI.
Like everyone else in the industry, they've been spending heavily on data centers, and that's put a real dent in the numbers. Of course, Elon Musk views the AI business as the vast majority of SpaceX's future total addressable market, or TAM. So presumably, he's happy to make these investments. But man, for the time being, this has proven to be a very expensive endeavor. By the way, in its IPO prospectus, SpaceX does break out its capital expenditures across its three divisions. Okay, their total capital expenditure has gone from 4.4 billion in 2023 to 20.7 billion last year and 10.1 billion just the first quarter alone. Now that's mostly from the Starship project in the space business and especially the AI investments at XAI in the first quarter. Their AI spending more than tripled year-over-year to 7.7 billion.
Expensive like everybody else. That in more detail than it's probably more than you ever wanted. But you must know if you're going to put in for the deal. It's the basic financial overview for SpaceX. You must know this. At least it's what the business looks like right now. And if you haven't picked up on this point, I'll say it explicitly: purely from the numbers, it's very difficult to justify giving SpaceX a $2 trillion valuation. But the bottom line is that people have been willing to pay up in the private markets, and I bet they'll pay up in the public ones. Why? Stick around after the break, and I'll explain the rest of the SpaceX story. The part that can't be captured by the four walls of the spreadsheet canvas. The part that can justify the sizzle, if not the stake of the offering.
Mad Money is back after the break. Coming up, Cramer's continuing his breakdown of SpaceX's IPO prospectus and searching for the good news to encourage potential investors. Next.
Before the break, I dug into the SpaceX IPO prospectus. Look, by any stretch of the imagination, very hard to justify a $2 trillion valuation for a money losing company with decent growth. Yet, people are incredibly excited about this thing. Some think it could be worth even more than that. And for the good reasons I'm about to give you. See, there's more than just the numbers in this prospectus. SpaceX is an Elon Musk vehicle, and that means it's all about the story, about a vision for the future. If you believe in that vision, $2 trillion, it doesn't seem that unreasonable.
From the very start, SpaceX lists mission as building, quote, 'the systems and technologies necessary to make life multiplanetary,' end quote. So, you can see this document is one of great optimism. They even included a chart that talked about a 28.5 trillion total addressable market. Although, as critics pointed out, that's nearly the size of the entire US GDP last year. Now, I don't want to get into the details too thick, though, because that's almost beside the point with this one. Long story short, SpaceX believes it can make a fortune as long as it keeps investing mainly in artificial intelligence.
The prospectus lists a ton of different long-term great growth opportunities in space, in Starlink, in AI, where they're talking about deploying data centers in space where solar energy can create a real edge over terrestrial data centers with huge power demands. But I'm more interested in their near-term plans. There are three in particular that make SpaceX relatively enticing right now. First, let's talk about the Starship program, which is SpaceX's effort to create a much larger reusable rocket than their current product line. The idea is that this thing will be able to deliver 100 metric tons to Earth's orbit and then come right back down. That's nearly double their heaviest existing rocket. And management believes they can get to 200 metric tons in the not too distant future.
Hey, they just did the 12th test for Starship last Friday, one that hit most of its targets. The plan is that these will go into operation sometime in the second half of the year. If SpaceX can really make that deadline, that'll be a major boon for their slowing space division. The second near-term growth opportunity mentioned in the prospectus is SpaceX's recently announced deal to lease some of its Nvidia-powered data center capacity in Memphis to Anthropic. Apparently, Anthropic's agreed to pay SpaceX $1.25 billion per month through May of 2029 for the right to use its compute, with capacity ramping in May and June for reduced fee. In other words, SpaceX's AI segment, which had $3.2 billion in revenue last year, could see an incremental $15 billion in revenue per year starting almost immediately.
SpaceX also said that they, quote, 'expect to enter into additional similar services contracts,' end quote. All of this amounts to a new hyperscaler-like business for SpaceX, similar to Amazon Web Services and Google Cloud. This Anthropic deal alone dramatically changes the economics of the AI division, potentially transforming it from a money pit to a money maker.
The third-term effort that we got more details on the prospectus of SpaceX's deal with Cursor. That's an AI startup that lets clients write software code through simple text prompts. It's kind of similar to Claude Code, or you might have heard of OpenAI's Codex. In late April, SpaceX and Cursor announced a deal to work together, with Cursor giving SpaceX the right to acquire them for $60 billion in stock. Or they could simply pay $10 billion in case SpaceX decides not to pull the trigger.
The main part of the agreement is that SpaceX will, quote, 'provide Cursor with certain GPU cluster compute capacity and collaborate to improve existing models, including Grok, and potentially jointly develop AI models and related model-specific deliverables or products,' end quote. Basically, SpaceX gives Cursor compute and in return it gets to use Cursor's technology to improve Grok and potentially create other AI products together. We'll probably know whether SpaceX wants to go ahead with the acquisition in the next month or two.
Now, how would that change the story? Well, Cursor is a very well-regarded company and the addition of Cursor would boost XAI's status amongst the leading AI labs, which really matters. Of course, $60 billion, not exactly a small chunk of change. It would be an all-stock deal though, meaning it wouldn't hurt
SpaceX's cash balances, but existing shareholders would indeed be diluted. And then the AI business would absorb whatever Cursor's financials look like. As with the Anthropic deal, that should help the AI segment's revenue, but we have to assume that Cursor is also a long way from profitability. Honestly, there is much, much more in SpaceX's IPO prospectus than I've been able to cover, even in two segments. There are more details on ambitious projects that the company has in the works, like a couple of projects that SpaceX is doing with Elon Musk's other company, Tesla. There are key details about things like the lockup on insider selling, which could significantly impact how the stock trades in its first several months, and critical details about control of the company. Long story short, Musk's grip on SpaceX is ironclad thanks to its 94% ownership position in the company's Class B shares, which have 10 votes per share. But we'll have plenty of time to dig into the rest of the story as we get closer to the IPO and learn more about the deal's pricing. For now, I just hope that you have a much better understanding of what the SpaceX business looks like and what some of the top near-term growth opportunities might be.
Look, overall, I think the SpaceX prospectus is a bit of a Rorschach test. There will be some staid value investors who put their pencils down after going through the current numbers and decide this business just isn't for them. There will be other, more optimistic, less detail-oriented investors who don't need to look at anything more than the total addressable market chart and hear things like, quote, 'data centers in space,' end quote, and asteroid mining to know that they're buying this stock no matter what the price looks like. I don't know much about asteroid mining, but I do think Musk will eventually be able to send data centers into space if he wants to. I just don't know what happens if something goes wrong. Very expensive to do repairs in orbit, right? At the same time, I bet there's a whole contingent of Musk's fervent believers who swap out of Tesla into the superior SpaceX once they have the chance. Most investors are going to fall somewhere between these two camps, which is a reasonable place to be, frankly.
Here's the bottom line. Historically, it's rarely paid to bet against Elon Musk. But at the same time, SpaceX is far from perfect, and the stock's almost certainly going to be expensive. Even if you want to own it, you might not want to buy it right away. But then again, that depends on where they price the deal. Either way, it'll have a huge impact on the rest of the market, which is why I'll keep following SpaceX so closely. And if you do decide to try to get some stock, it might pay to put a limit order on your order no matter what. Okay? Whatever price equates to a $2 trillion market cap, as I simply can't justify paying any more than that without new information that changes the company's near-term prospects. Let's take calls. Let's go to Pete in Georgia. Pete.
Hey Jim, how are you, sir?
I am good, Pete. How you doing?
I'm doing well. So foggy down here in Atlanta.
I've got a pretty sizable investment in Nvidia, but I'm five years to retirement, and I'm just wondering if Nvidia has become a compounder. And outside of that, would you look at Arista, Broadcom, or Micron, which of course popped today?
Okay, Micron. Micron big spike. Arista, I'm not sure about how their near-term prospects are going to be. Broadcom, we own for the Charle Trust. We talked about that tomorrow at our noon meeting. I would say this: Nvidia currently is not reflecting the strength of the company. It just didn't have the kind of oomph that I thought the quarter actually had. I know that if you go, I don't know, you may not be a member of the club. I really went at length about what Nvidia must do to get the stock price up, but that's certainly not their goal. It's to get the business strong, and they're doing a great job of that.
All right, look, SpaceX will definitely be an expensive stock when it comes public next month, but it's really paid to bet against Elon Musk, hasn't it? Now, there's much more Mad Money, including my sit-down with a company called Abridge. This private player is using AI to empower healthcare providers. I'm finding out more about the company's mission and its prospects from the CEO. And it might be easy to cast aspersions on the data center buildout, but is there more to this story than just the headlines that all seem so negative? I'll break it all down, you doomers, and all your calls rapid fire in tonight's edition of the lightning round. So stay with Cramer.
Sometimes you need to check in on the private companies who are shaking up entire industries. Take Abridge, which is a medical AI company. Now, their platform acts kind of like a scribe, keeping track of conversations between you and your doctor, then doing the necessary paperwork. That's the bare bones. We got much more here. Basically, the goal is to make it so doctors and nurses are wasting less time on clerical work, more time on you, the patient. It's a good pitch, which is why Abridge has managed to raise $830 million and reach a private market value of $5.3 billion right now. It's also clocked in at number 30 on CNBC's annual Disruptor 50 list, which you know we like to talk about a lot here. So, what does the future of this industry look like? Let's take a closer look with Dr. Shiv Rao. He's the co-founder and CEO of Abridge to learn more. Dr. Rao, welcome to Mad Money.
Thanks so much, Jim. Such a privilege to be here.
Oh, come on, man. It's great to have you. Now, Shiv, I hope that you can first just give a big overview, because I think a lot of people wanted, not just the people who watched the movie The Pit, but the show The Pit, but a lot of people want to know exactly what you guys do because it's a little harder to understand than just say, 'Hey, listen, you're a scribe,' because I didn't want to leave it at that. So, the floor is yours.
Yeah, absolutely. Thank you. Really, our core thesis at Abridge is that we think healthcare is about people. It's about professionals like doctors and nurses. And it's also about, most importantly, it's about patients, all of us. And what we want to do is use technology, use AI to bring those people closer together. There are so many different distractions, so much clerical work that gets in the way. And if we can bring them closer together by unburdening clinicians like me, I'm a practicing cardiologist, from all the clerical work that crushes my soul at night, that I can just fully focus on the person in front of me to deliver the best possible experience, to deliver the best possible outcome. It's a win for everyone.
Well, tell me what Abridge hears and then what does it translate to, because I'd be worried that it's just, well, it is just a word-for-word, doesn't really give me any insight.
Yeah, absolutely. So, just to give you a sense of kind of where things have been and now where things are with Abridge. It used to be that I'd walk in a room and, you know, before I would walk in that room to talk to that patient, I'd maybe like prep the night before, maybe take some notes to understand who this person is, what are their issues, so that I can feel that much more equipped when I actually walk in. Then I'd walk in the room and we'd have all kinds of chitchat. I think that's what you're referring to. Maybe we talk about the sports games over the weekend. Maybe we talk about our families. And maybe, you know, in those in-between moments, we're talking about chronic diseases. We're talking about, you know, all the really important medical stuff. And then afterwards, what I would have to do as the doctor, I'd have to write the notes. I'd have to place the orders. I'd have to do billing and what they call coding, medical coding. It's like accounting. I do have to do all kinds of work that I never went to medical school to learn how to do. And so what Abridge allows clinicians to do is walk in the room and already feel like a superhero on what questions they need to ask because we can kind of give them this cheat sheet, this digest about who this patient is. Then during the conversation, we don't interrupt them. We don't have any flashing lights or beeping sounds. You can be fully present. You can make eye contact and you can have that chitchat. Resting assured that at the end of the visit, we're going to create all of those artifacts. We're going to do all of that clerical work for you. We're even going to help you make better decisions by helping you understand the latest evidence related to, you know, the specific diagnostic or therapeutic treatment you were thinking about.
Well, it makes a lot of sense. My general practitioner is a fellow by the name of Dr. Leuke, Jonathan Leuke, and we spend a lot of time together, and I've been a big supporter of the empathy project. It sounds like with Abridge, I would have more time to be empathetic and less time checking my watch and writing stuff down, making more eye contact with my patient and really understanding what the person's saying. Can this make a difference so that people, doctors, are more empathetic?
100%. And we're seeing that actually in the data already. The University of Chicago, for example, published a study that demonstrated that against a certain metric called an HCAP score, it's a score that measures patient experience, that those scores went up on the other side of deploying this technology. I think all of us want to make more eye contact. We want to be more present with each other. And this technology, when you point it at the right problems, can actually help industries like healthcare feel more human. You know, we have a mantra in our company that we want to save time, we want to save money, and we want to save lives. Okay. And if you reflect on... Yeah.
Well, I just wanted to point out that... Yeah. That Jensen Huang, whom we have listened to many times and talked to, really believes in exactly what you're describing with doctors. And I'm really glad that he is an investor. I believe he is an investor because there aren't as many advances as we would like to see in AI that we think are terrific. And we look to him for his investments, and it sounds like he's found a friend and colleague with you.
100%. And this is an advancement that's touching many of us already. We're live. Abridge is live across well over 300 of the largest health systems now. And we're going to be touching, you know, well over 100 million patients over this next 12 months. And so that's a lot of scale. That's a lot of impact. But when you think about the impact also on the professional side of the room, there was an article that was published a few years ago in the American Journal of General Internal Medicine, and it suggested that doctors need 30 hours a day to get all of their work done. But they also parsed all the tasks, all the jobs that sort of made up that 30 hours. And for us, that's a lot of our roadmap right now. What can we do to help clinicians really operate at the top of license, as they say in our industry, so that they can be delivering not just the best experiences but also the best clinical and financial outcomes?
