From the desk of Jamie Montgomery Good morning from Santa Monica, One attribute of a successful investor is to continually challenge closely held assumptions. Last week, a Chinese AI model, DeepSeek, demonstrated cutting-edge inference capabilities—despite perhaps being trained on older-generation chips. This moment underscored a few key risks that investors have largely ignored: (1) the assumptions that support AI valuations, (2) the assumptions regarding the level of CapEx investment required by the biggest tech players in the U.S., and (3) the assumptions regarding the energy requirements for AI. This news is not all bad. At The Montgomery Summit 2025 presented by March Capital, we will address that we are still in the early innings of AI, that the most exciting AI opportunities likely lie in the “application layer,” and that lower-cost AI infrastructure will only help to expedite the adoption of AI applications. And, last week's announcement raises a fundamental question: will open-source AI play a larger role in defining the future of AI? We will explore the “application layer” in a series of panel discussions. Service as Software: Emerging Vertical Markets for AI will highlight companies like Higharc and MarqVision. With AI enabling companies to sell services-as-a-software, these startups are scaling revenue at a pace far quicker than their traditional SaaS predecessors. Additionally, we will discuss how enterprises are responding to the Agentic Era of Software. Tectonic shifts are underway in companies as they move from deploying AI pilot programs to scale solutions that are driving revenue and efficiency gains. We will hear from leading C-Suite Executives and next-generation technology leaders who are scaling these AI agents across the enterprise in real-world scenarios.  Beyond enterprise applications, AI is fundamentally reshaping how we approach scientific discovery. In Generative AI in Action: Rethinking Scientific Discovery & Academic Research, Geoffrey von Maltzahn (Co-Founder & CEO, Lila) will discuss how AI-powered “scientific factories” are autonomously designing and conducting experiments—creating knowledge beyond what humans alone could uncover. These breakthroughs are accelerating advancements in healthcare, climate tech, and beyond. Chancellor Pradeep Khosla (UC San Diego) will provide an academic perspective, highlighting how institutions are applying these advancements not only to redefine research but also the scientific method.  While AI drives scientific and technological breakthroughs, companies must also navigate the realities of bringing these innovations to market. In Doing More with Less: Insights from CMOs, top marketing leaders in tech — Johanna Flower (Go-To-Market Expert, Startup Advisor & Board Director), Denise Persson (CMO, Snowflake), and Jennifer Johnson (CMO, CrowdStrike) — will share their expertise. They will discuss why marketing often feels like a “black box” to startup founders, how startups can replicate Fortune 500 marketing strategies on a lean budget, and ways to adapt marketing strategy as a startup scales. In these sessions and more, we look forward to exploring the evolving technology investment landscape in AI with key innovators and stakeholders. We are also excited to announce 40+ newly confirmed presenting companies - I think you will find the descriptions below interesting and inspiring. Our recovery in Los Angeles from the wildfires is slowly ramping up, but it will be a long process measured in years – not days. We look forward to coming together as a community and to recognizing our first responders and others helping in the recovery. Our Welcome Reception on the evening of Tuesday, March 4th has been moved to the Getty Center (in Brentwood) from the Getty Villa (in Malibu). We have a very special evening planned—more information on the Welcome Reception can be found below. The Getty Villa will likely not be open for a few more months, but we hope to return in 2026. The Fairmont Miramar is in very good shape. We are working with the hotel to monitor the air quality and overall safety of the environment. This week, all was good. If you haven’t registered yet, now’s the time. The Montgomery Summit is where the most important conversations in AI, technology, and capital happen—don’t miss your chance to be part of it. I hope to see you on March 4th and 5th, Jamie REQUEST AN INVITATION   SESSIONS TO LOOK FORWARD TO VIEW ALL 2025 SPEAKERS   NEWLY CONFIRMED 2025 PRESENTING COMPANIES Alice & Bob: Revolutionizing quantum computation with stable building blocks and built-in error correction. Atominvest: Modern financial asset management tech- workflows, analytics, tracking, more - for over 20,000 firms. AudioShake: Transforms any audio into an immersive experience, transforming engagement across contexts. Bankjoy: A one-stop digital/mobile platform for banks & credit unions, built by industry veterans and trusted by millions. Cashmere: Wealth management platform for finding and securing prospects, converting and guiding investment through all life events. CoMind: Non-invasive neutechnology that revolutionizes understanding, treatment, and patient care in brain disorders. Confidence Systems: Advanced knowledge management for faster training, higher productivity, better capture. Cranium: AI governance for better results, governance, security, scaling, visibility, trust. Dhruva Space: Space technology: Launch, satellite platforms, and ground services, for business, science, governments. Duetti: Disrupting the financial opportunities for independent musicians with rights shares, payments, tracking e6data: A compute engine that saves money and improves performance on the biggest and costliest workloads. Ephos: Glass-based photonic technology transforms performance in classical and quantum computing. Harmonic: Faster and better GenAI adoption through secure adoption, managmeent, and training, supplier to end user. Harrison.ai: Delivering human-AI for healthcare technology in research, management, and care. Healthee: Patient-centered mobile/AI access and management of healthcare benefits. Hippocratic AI: Physician-approved AI agents that ease the diagnostic and treatment burden on health professionals. Landing AI: Visual AI that unlocks the rich data of images and videos for analysis, inference, object recognition, and application development. Leash Bio: ML-based screening and design of novel molecule-protein combinations in medicinal chemistry. Luma Labs: Brainstorm and create videos, images, and characters for online stores, with AI. Mach Industries: Producing mission-oriented, strategic and decentralized unmanned air defense systems. Monalee: Instant, customizable solar panel design, pricing, sales, and installation that's economical and reliable. Multiverse Computing: AI model compression and optimization efficient operations and faster solving of tough problems. Noetik: Precision cancer immunotherapies through ML-based analysis of diverse, multimodal data sets. Pando: Agile supply chain agents that automate procurement, transport, audit, and payment. Personetics: Personalized, data-led mobile banking solutions that raise customer engagement, experience, and deposits. Qolo: Full-service payments processing, settlement, movment, and customer service, in one API. Qunasys: Engineering practical, business-oriented quantum computing algorithms and user software. Raiven: The digital supply chain network for building trades -get more done, save money. Regie.ai: AI sales agents source/prioritize contacts, interact across channels, and accelerate engagement. Rembrand: Spatially aware AI embeds brands into video for greater engagement and monetization. RQD*: Financial clearing, custody, and execution. Instant trade processing and customer service tools. One API. SpyCloud: Identity threat protection that integrates with existing tools and workflows to disrupt cybercrimes. Subtle Medical: Accelerated, more accurate image quality in Radiology with vendor-neutral AI. SurrealDB: The multi-modal database for building reliable real-time apps, fast and easy. Transcarent: A gen AI tool for employees to navigate benefits, seek guidance, access providers, and get care. Turbine Finance: Increasing flexibility and raising liquidity options for venture investors. Virtue AI: AI risk assessment with regulatory compliance. Vody: Gen AI for retail and restaurants, with proprietary models that work securely across major platforms and clouds. Yurts: Integrating AI into mission-critical infrastructure for tailored experiences, insight, and control. VIEW ALL 2025 PRESENTING COMPANIES   WELCOME RECEPTION AT THE GETTY CENTER We’re excited to announce that this year’s Montgomery Summit Welcome Reception will take place at the Getty Center on Tuesday, March 4th from 7:00pm to 9:30pm. While we’ve traditionally hosted this gathering at the Getty Villa, the Villa is currently closed due to damage from the Palisades fires. We’re grateful to the Getty team for welcoming us to the Getty Center, one of Los Angeles’ most treasured landmarks. This will be a remarkable evening—a chance to connect with fellow Summit attendees while taking in breathtaking views of the city. Guests will also have the unique opportunity to privately tour the West Wing, home to the Getty’s Van Goghs, Manets, Monets, and more. Adding to the festivities, we’re thrilled to welcome Forester as our musical talent for the evening. Shuttles will be provided to and from the Fairmont Miramar to ensure a seamless experience. More information will be shared in the coming weeks. We look forward to kicking off the Summit in such an iconic setting and to seeing you there! Our room block at the Fairmont Miramar is closing on February 17th, and there are only a few rooms left. Be sure to book your accommodations from our website to get the best rates at The Fairmont Miramar, The Huntley Hotel, and Santa Monica Proper Hotel! Thank You to Our 2025 Partners Stay up-to-date with Summit News LinkedIn   YouTube   X   www.montgomerysummit.com Questions? Email us at info@montgomerysummit.com. Click here to view the web version of this email. If you'd prefer not to receive emails like this from The Montgomery Summit in the future, you may Opt-Out.