SES AI is a battery technology company that has repositioned itself as an AI-driven platform business. Its core product is Molecular Universe, a platform that helps battery companies, automotive OEMs, chemical companies, and consumer electronics firms discover and develop new battery materials — primarily electrolytes — faster than traditional lab-based R&D. Molecular Universe lets users search a database of battery-relevant molecule and formulation properties, run GPU-accelerated quantum mechanics simulations, and use machine learning models to predict battery health. Customers access the platform via cloud subscription or on-premise enterprise deployment, with an additional joint development tier where Molecular Universe is trained on a customer's proprietary data. SES generates revenue across four areas: EV development services (high-margin contracts with OEMs including Hyundai and Honda), Energy Storage Systems (ESS) hardware through its acquired subsidiary UZ Energy, battery cells for drones and UAM applications manufactured in Chungju, South Korea, and eventually electrolyte materials through a joint venture with Hisun New Energy Materials. Management views the hardware businesses as data collection channels that feed real-world battery data back into Molecular Universe, improving the AI models over time. SES pursues a CapEx-light model: contract manufacturing for cells, a JV structure for materials where Hisun provides manufacturing and SES controls IP, and a subscription layer for software. SES is also pursuing M&A to acquire hardware businesses that can be integrated with Molecular Universe and generate additional training data.