Butterfly Network looks overpriced for its Midjourney deal, because the licensing structure caps how much of that vision reaches Butterfly. Midjourney pays $15M upfront plus $10M a year for its ultrasound-on-chip, but chip sales are one-time per scanner and the revenue share ties to hardware, not scans. Even 50,000 scanners might lift revenue only 10–70%, back-loaded. At about 14x trailing sales, with EBITDA losses expected and insiders selling, the vision is option value, not a base case. x.com 

Butterfly Network is expensive against its sales. At $7.80 it trades at 17x sales and 13x next year's, while medical-device makers usually get 8x. Fair value runs $4.73 to $6.02, about 8x next year's sales, so buyers pay roughly 30% over fair. This is a valuation read only, off reported earnings and revenue estimates, with no fundamental work. x.com 

Butterfly Network is the picks-and-shovels play on the Midjourney Scanner, since every scanner runs on 40 of its Ultrasound-on-Chip modules. Midjourney brings the software and brand while Butterfly supplies the imaging physics under a license worth up to $74 million over five years. Midjourney targets 50,000 scanners and a billion scans a month by 2031, future versions use more modules each, and Butterfly gets paid on every unit. x.com 

Butterfly Network's silicon-based ultrasound could turn specialist imaging into a home device that improves as scans and outcomes train its AI. That iPhone-like shift depends on crossing the harmonics gate; Apple reached $5T thanks to the iPhone, while Butterfly trades at $2B and could similarly change how we see inside our bodies. x.com  x.com 

Medical stocks such as Hyperfine and Butterfly Network could see rotation soon, as Wall Street eventually catches on to the boom AI is driving across all aspects of medicine. x.com