2. Butterfly Network Inc. (NYSE:BFLY)
Butterfly Network, Inc. (NYSE: BFLY) offers the most concentrated AI imaging exposure in this group. Its business combines semiconductor-based ultrasound devices with cloud software, AI tools, enterprise workflows, and a marketplace supporting third-party imaging applications. butterflynetwork.com
The commercial opportunity extends beyond selling handheld probes. Software subscriptions and technology licensing could broaden its revenue mix. Butterfly’s announcement concerning its Midjourney collaboration references up to $74 million in expected payments over five years, while identifying development, commercialization, and payment-realization risks. Those expected payments should not be treated as revenue already earned. butterflynetwork.com
Butterfly ranks second because AI and imaging technology sit close to its core offering. To strengthen the investment case, investors should look for sustained adoption, recurring revenue growth, and evidence that expansion can support a financially durable business.
