The Q2 edition examines what it takes to make an enterprise AI native, including the operating model changes leaders must make to turn pilots into outcomes. It looks at how software pricing is shifting from seats toward work performed and why GenAI costs can surprise companies as adoption scales. Financing updates and perspectives on Physical AI, healthcare, and enterprise infrastructure show how those ideas are taking shape across BGV’s portfolio. The edition connects strategic decisions inside large organizations with the startups building new systems to deliver measurable work and value.

This edition explores the infrastructure behind the next intelligence stack, from rising energy demand and data centers to world models that learn from the physical world. It also looks at Enterprise 5.0 and the move from AI copilots toward systems that execute work across complex business processes. The issue rounds out those themes with financing updates, perspectives from BGV’s network, and examples of AI changing how enterprises operate. Together, these stories show how advances in computing, energy, and enterprise software are reshaping the conditions for building and scaling AI-native companies.

This edition focuses on the AI Native Shift and BGV’s Enterprise 5.0 thesis, as companies move beyond tools that generate answers toward systems that carry out work. It examines the rise of Physical AI and its applications in the material world, alongside new thinking on how enterprises deploy intelligence. The issue also brings together financing events and perspectives from the BGV team and its wider network. Across these stories, the common thread is the growing importance of AI systems that can act within complex workflows and produce tangible outcomes.