“Show me the monAI”: Wall Street demands real returns from artificial intelligence
The era of AI speculation is over—now, it's about delivering measurable business results.
The number of times the phrase "artificial intelligence" has been mentioned in conference calls held by Wall Street-listed companies after releasing their earnings reports has surged to a historic high. According to data from investment bank Goldman Sachs, 50% of companies in the S&P 500 index are now incorporating AI talk into their presentations, up from 30% at the beginning of 2024.
In Silicon Valley, much of the excitement centers around large language models and the race between companies like OpenAI and DeepSeek, as well as the ongoing chip wars. However, Wall Street investors are equally—if not more—interested in AI’s real-world applications and how it will impact corporate performance. That is where the big money lies, along with the future of many technology companies, which must adapt to the new reality.
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Monday.com founders Eran Zinman and Roy Mann, Fiverr CEO Micha Kaufman, and Kaltura CEO Ron Yekutiel.
(Photo: Nimrod Glickman, Nathaniel Tobias, Kaltura)
This earnings season has made one thing clear: AI is no longer just a buzzword—companies are under pressure to show how it translates into revenue. While AI remains a transformative technology, adoption is still in its early stages. According to Goldman Sachs research, only 6% of American companies have reported actively using AI in their daily operations, while another 10% plan to integrate AI applications in the coming months. Early adopters are concentrated in the technology, professional services, education, and finance sectors, while industries traditionally associated with blue-collar work—such as transportation, hospitality, and construction—are lagging behind.
CoreWeave’s IPO signals AI’s commercial expansion
Another sign of AI’s growing economic impact came on Tuesday when U.S. startup CoreWeave filed for an IPO on Wall Street, a move many hope will kick-start the 2025 IPO market. CoreWeave, a key player in AI infrastructure, rents access to Nvidia’s GPU processors via the cloud. This allows organizations that have struggled to acquire Nvidia chips—or do not require them continuously—to access advanced AI applications. The company operates 250,000 GPUs in its data centers.
CoreWeave’s financials underscore the AI revolution’s momentum. Its revenue skyrocketed 730% in 2024 to $1.9 billion, compared to just $229 million in 2023. In Q4 alone, it reported $747 million in revenue. Like many startups, it remains unprofitable, posting a loss of $863 million in 2024, down from $593 million in 2023. However, this represents a significant improvement. The company was last valued at $19 billion after raising $1.1 billion, and an IPO at a multi-billion-dollar valuation could pave the way for other high-tech public offerings.
From hype to revenue: Companies race to monetize AI
AI’s presence in corporate earnings calls is no longer limited to grand visions and futuristic promises. This season, the key question executives faced was: How much additional revenue will AI bring? Investors are no longer satisfied with speculation—they want tangible results.
One company that successfully addressed this demand was monday.com. The enterprise software firm unveiled a concrete monetization strategy, announcing that it would begin charging customers based on AI usage. Recognizing that AI applications were already being widely used within its platform, monday.com provided Wall Street with the precise details it wanted to hear.
Fiverr, on the other hand, took a different approach. As a marketplace connecting freelancers with clients, Fiverr recognized that AI was disrupting its core business, with many services—such as translation, dubbing, graphic design, and even coding—now being automated. In response, the company launched a suite of AI-powered tools designed to help freelancers stay competitive.
Fiverr’s new AI functions enable freelancers to generate sample work automatically for potential clients. Additionally, clients can use AI to create products featuring a freelancer’s personal style for a reduced fee. The company also introduced an AI-powered personal assistant that can respond to client inquiries on behalf of freelancers, allowing them to take time off without losing business. The demand for these tools was so high that Fiverr’s dedicated website temporarily crashed. Two days later, CEO Micha Kaufman revealed that the AI assistant was closing deals 57% more effectively than human freelancers themselves.
Wix, which also integrates AI into its website-building platform, has been gradually rolling out AI-powered features. While the company charges for some AI functions—such as automated marketing emails—many tools are still in development. During its latest earnings call, Wix projected that AI’s impact on its bottom line would become more evident in the second half of 2025, contributing to faster revenue growth.
Another Israeli company, Kaltura, is also looking to capitalize on AI. The video management software provider recently introduced "Genie," an AI-powered tool aimed at enhancing online learning. Genie personalizes educational content by adjusting to users’ learning speeds and generating real-time quizzes to assess knowledge. While still in its early stages, Kaltura reports strong interest from large organizations and universities.
AI stocks face investor skepticism
Despite the enthusiasm around AI, investor sentiment has been mixed. Monday.com, which announced its AI strategy early in the reporting season, saw its stock jump 30%. However, Fiverr and Kaltura have struggled, with their stocks declining sharply following their AI announcements. This suggests that, for investors, AI hype alone is no longer enough—companies must demonstrate direct revenue impact.
In 2025, the market’s attitude toward AI is shifting. No longer is it enough for companies to mention AI in their reports or marvel at its capabilities. The real question is: What does AI actually do for the bottom line? Investors are no longer satisfied with vague promises—they are demanding results. Or, as some investors put it, "Show me the monAI."
