3 Houston-area companies appear on Fortune’s inaugural AI ranking

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Spring-based ExxonMobil ranks within the top 10 on the new Fortune AIQ 50 ranking. Photo via Getty Images.

Three companies based in the Houston area appear on Fortune’s inaugural list of the top adopters of AI among Fortune 500 companies.

The three companies are:

  • No. 7 energy company ExxonMobil, based in Spring
  • No. 19 tech company Hewlett Packard Enterprise, based in Spring
  • No. 47 energy company Chevron, based in Houston

All three companies have taken a big dive into the AI pool.

In 2024, ExxonMobil’s executive chairman and CEO, Darren Woods, explained that AI would play a key role in achieving a $15 billion reduction in operating costs by 2027.

“There is a concerted effort to make sure that we're really working hard to apply that new technology to the opportunity set within the company to drive effectiveness and efficiency,” Woods told Wall Street analysts.

Hewlett Packard Enterprise is also employing AI to decrease costs. In March, the company announced a restructuring plan — including the elimination of 3,000 jobs — aimed at cutting about $350 million in annual expenses. The restructuring is scheduled to wrap up by the end of October.

Hewlett Packard Enterprise’s Catalyst cost-cutting program includes a push to use AI across the company to improve efficiency, Marie Myers, the company’s executive vice president and chief financial officer, told Wall Street analysts in June.

“Our ambition is clear: A leaner, faster, and more competitive organization. Nothing is off limits. We are focused on rethinking the business — not just reducing our costs, but transforming the way we operate,” Myers said.

At Chevron, AI tools are being used to quickly analyze data and extract insights from it, according to tech news website VentureBeat. Also, Chevron employs advanced AI systems known as large language models (LLMs) to create engineering standards, specifications and safety alerts. AI is even being put to work in Chevron’s exploration initiatives.

Bill Braun, Chevron’s chief information officer, said at a VentureBeat-sponsored event in 2024 that AI-savvy data scientists, or “digital scholars,” are always embedded within workplace teams “to act as a catalyst for working differently.”

The Fortune AIQ 50 ranking is based on ServiceNow’s Enterprise AI Maturity Index, an annual measurement of how prepared organizations are to adopt and scale AI. To evaluate how Fortune 500 companies are rolling out AI and how much they value AI investments, Fortune teamed up with Enterprise Technology Research. The results went into computing an AIQ score for each company.

At the top of the ranking is Alphabet (owner of Google and YouTube), followed by Visa, JPMorgan Chase, Nvidia and Mastercard.

Aside from ExxonMobil, Hewlett Packard Enterprise, and Chevron, two other Texas companies made the list: Arlington-based homebuilder D.R. Horton (No. 29) and Austin-based software company Oracle (No. 37).

“The Fortune AIQ 50 demonstrates how companies across industry sectors are beginning to find real value from the deployment of AI technology,” Jeremy Kahn, Fortune’s AI editor, said in a news release. “Clearly, some sectors, such as tech and finance, are pulling ahead of others, but even in so-called 'old economy' industries like mining and transport, there are a few companies that are pulling away from their peers in the successful use of AI.”

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Andrew Chang, managing director of United Airlines Ventures, joins the Houston Innovators Podcast. Photo via LinkedIn

Houston corporate venture leader calls for collaboration across sustainable fuel, innovation community

HOUSTON INNOVATORS PODCAST EPISODE 212

When it comes to the future of aviation — namely, making it more sustainable, a rising tide lifts all boats. Or, in this case, planes.

Andrew Chang, managing director of United Airlines Ventures, explains that working together is the key for advancing sustainable aviation fuel, or SAF. That's why United Airlines started the Sustainable Flight Fund, a $200 million initiative with support from industry leaders, including Air Canada, Boeing, GE Aerospace, JPMorgan Chase, Honeywell, Aramco Ventures, Bank of America, Hawaiian Airlines, JetBlue Ventures, and several others.

"We all recognize that we may compete in our core business, but with the importance of sustainable aviation fuel and given that it's an industry that doesn't exist — you can't compete for something that doesn't exist — let's collaborate and work together to explore technologies that can directly or indirectly support the commercialization and production of sustainable aviation fuel," he says on the Houston Innovators Podcast.

Within United Airline Ventures, Chang's job is to find technology to invest in across the aviation industry spectrum — from SAF to digital technologies that will improve the United customer experience. This means working with startups and other organizations to find the best fit — and, because he's based in Houston, one of United's seven key hubs, this means knowing and interacting with local innovators.

"The knowledge base and the capabilities are here — that's undebatable," Chang says of the Houston innovation ecosystem. "The next step is making sure we're accessing, promoting, collaborating, and learning from one another."

Again, as Chang recognizes, collaboration is key to further developing the ecosystem, "so that we're not trying to solve the same problem in a vacuum," he explains.

United Airlines recently signed an offtake agreement with Cemvita Factory, a Houston biotech startup that's working on SAF. Chang discusses this partnership on the show, as well as explaining how he works with other startups and what he's looking for.

Attention small business owners: it's time for a financial wellness exam. And Hello Alice has just the tool for you to use. Photo by Hero Images

Houston fintech company launches new tool for startups and small businesses

wellness check

Much like the humans that run them, businesses need the occasional wellness exam. A fintech company founded in Houston has created a tool for conducting that health check.

Hello Alice announced that its new tool Business Health Score has launched today. The assessment tool can be used by startups and small businesses to navigate their financial and business health. The tool is the first product rolling out from the Equitable Access Program, a new initiative from Hello Alice and the Global Entrepreneurship Network with support from Wells Fargo, JPMorgan Chase, Mastercard, and the Kauffman Foundation.

Hello Alice was co-founded by Elizabeth Gore and Carolyn Rodz and has worked with over one million small businesses to help them access capital. The idea of the Score is to give business owners "a comprehensive overview of a business's financial health," according to the news release from Hello Alice. This information is critical for decision making and works hand-in-hand with all of Hello Alice's existing resources.

Operating as a self-assessment questionnaire, the Score will provide entrepreneurs with a composite number by evaluating three business aspects: financial and business management practices, financial performance and position, and credit history.

“Over the last two years, Americans have applied to start 10.5 million new businesses, leading to a surge in the small business economy and more entrepreneurs who need support to properly grow their businesses," say Gore and Rodz in the release. "We recognized data was missing from the market that would give enterprise partners and financial institutions a clearer picture of the potential that small business owners possess for massive growth and investment."

The Score will help Hello Alice and its partners, which includes financial institutions, navigate the business's unique needs and provide the appropriate financial services and resources.

“We are providing unparalleled visibility through the Business Health Score that will empower small business owners to make more strategic decisions and optimize their growth while giving partners and institutions the insight to best help them through personalized service and product recommendations," the co-founders continue. "The Score and the larger Equitable Access Program we have launched with GEN are a huge step forward in opening up more growth opportunities for small businesses and ecosystem partners.”

Hello Alice and GEN are on a mission of democratizing access to capital so that entrepreneurs from all communities have the ability to grow their businesses sustainably. Last year, Hello Alice launched an entrepreneur-focused credit card that helped businesses more easily set up a line of credit.

“Entrepreneurs are well-equipped to deal with disruption and changing dynamics, but while talent is plentiful, opportunity is not,” says Jonathan Ortmans, founder and president of the Global Entrepreneurship Network, in the release. “The Equitable Access Program and Business Health Score will open doors for small business owners to better manage and grow their businesses, which will lead to more strategic partnership and funding opportunities.”

Three panelists representing the real estate, banking, and health care industries weighed in on innovation in Houston. Photo via Greater Houston Partnership/Facebook

Overheard: Houston execs weigh in on the innovation ecosystem and local startups

Eavesdropping in Houston

Something has shifted in Houston, and businesses across industries — whether it be real estate, health care, or energy — are focused on innovation, emerging technologies, and the role of startups within the business community.

At the Greater Houston Partnership's annual Economic Outlook on December 5, three panelists from various industries gathered to discuss some of the biggest issues in Houston — from the multifamily real estate market to what the local workforce needs. The panel was moderated by Eddie Robinson, the morning news anchor for Houston Public Radio, and the panelists did weigh in a few issues affecting innovation.

Missed the talk? Here are a few overheard moments from the discussion.

"Houston allows you to do what you do. And you don't get that in other places."

Photo via Greater Houston Partnership/Facebook

— Bradley R. Freels, chairman of Midway Cos. Freels says, while the city's been overshadowed by other Texas cities for innovation and tech — and even by its large oil and gas industry presence, the city is becoming a great place for startups. "This is a great place to do business because it's easy to get started in business here. I think it's just over shadowed to some degree," he says, adding later that, "the initiative around the innovation corridor is real."

"Houston is unique, in my opinion, in how open and welcoming it is."

Photo via Greater Houston Partnership/Facebook

— David Milich, CEO of UnitedHealthcare - Texas & Oklahoma. Building off the panelists point that Houston is a spirited, can-do city, Milich specifies that it's the collaboration between people in Houston that sets the city apart. "When we present ourselves with something to get done, we generally get it down."

"We're realizing that the economy is shifting. As we move forward in the 21st century, our entire workforce needs to be tech fluent."

Photo via Greater Houston Partnership/Facebook

— Nataly Marks, managing director and region manager at JPMorgan Chase. When asked about jobs needed in Houston, Marks specified technology positions. Moreover, JPMorgan Chase is emphasizing getting the entire staff proficient in the latest tech resources.

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With boost from Houston, Texas is the No. 1 state for economic development

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Texas is on a 14-year winning streak as the top state for attracting job-creating business location and expansion projects.

Once again, Texas has claimed Site Selection magazine’s Governor’s Cup. This year’s honor recognizes the state with the highest number of economic development projects in 2025. Texas landed more than 1,400 projects last year.

Ron Starner, executive vice president of Site Selection, calls Texas “a dynasty in economic development.”

Among metro areas, Houston lands at No. 2 for the most economic development projects secured last year (590), behind No. 1 Chicago and ahead of No. 3 Dallas-Fort Worth.

In praising Houston as a project magnet, Gov. Greg Abbott cites the November announcement by pharmaceutical giant Lilly that it’s building a $6.5 billion manufacturing plant at Houston’s Generation Park.

“Growth in the Greater Houston region is a great benefit to our state’s economy, a major location for foreign direct investment and key industry sectors like energy, aerospace, advanced manufacturing, and life sciences,” Abbott tells Site Selection. “Houston is also home to one of the largest concentrations of U.S. headquarters for companies from around the world.”

In 2025, Fortune ranked Houston as the U.S. city with the third-highest number of Fortune 500 headquarters (26).

Texas retained the Governor’s Cup by gaining over 1,400 business location and expansion projects last year, representing more than $75 billion in capital investments and producing more than 42,000 new jobs.

Site Selection says Texas’ project count for 2025 handily beat second-place Illinois (680 projects) and third-place Ohio (467 projects). Texas’ number for 2025 represented 18% of all qualifying U.S. projects tracked by Site Selection.

“You can see that we are on a trajectory to ensure our economic diversification is going to inoculate us in good times, as well as bad times, to ensure our economy is still going to grow, still create new jobs, prosperity, and opportunities for Texans going forward,” Abbott says.

Houston e-commerce giant Cart.com raises $180M, surpasses $1B in funding

fresh funding

Editor's note: This article has been updated to clarify information about Cart.com's investors.

Houston-based commerce and logistics platform Cart.com has raised $180 million in growth capital from private equity firm Springcoast Partners, pushing the startup past the $1 billion funding mark since its founding in 2020.

Cart.com says it will use the capital to scale its logistics network, expand AI capabilities and develop workflow automation tools.

“This investment will strengthen our balance sheet and provide us with the flexibility to accelerate our strategic priorities,” Omair Tariq, CEO of Cart.com, said in a news release. “We’ve built a platform that combines commerce software with a scaled logistics network, and we’re just getting started.”

In conjunction with the funding, Springcoast executive-in-residence Russell Klein has been appointed to Cart.com’s board of directors. Before joining Springcoast, he was chief commercial officer at Austin-based Commerce.com (Nasdaq: CMRC). Klein co-led Commerce.com’s IPO, led the company’s mergers-and-acquisitions strategy and played a key role in several funding rounds.

“The team at Cart.com has demonstrated excellence in their ability to scale efficiently while continuing to innovate,” Klein said. “I’m excited to join the board and support the company as it expands its AI-driven capabilities, deepens enterprise relationships, and further strengthens its position as a category-defining commerce and fulfillment platform.”

Before this funding round, Cart.com had raised $872 million in venture capital and reached a valuation of about $1.6 billion, according to CB Insights. With the new funding, the startup has collected over $1 billion in just six years.

This is the income required to be a middle class earner in Houston in 2026

Cashing In

A new study tracking the upper and lower thresholds for middle class households across the nation's largest cities has revealed Houstonians need to make at least a grand more than last year to maintain their middle class status this year.

According to SmartAsset's just-released annual report, "What It Takes to Be Middle Class in America – 2026 Study," Houston households need to make anywhere from $42,907 to $128,722 to qualify as middle class earners this year.

Compared to 2025, Houstonians need to make $1,153 more per year to meet the minimum threshold for a middle class status, whereas the upper bound has stretched $3,448 higher. The median income for a Houston household in 2024 was $64,361, the study added.

SmartAsset's experts used 2024 Census Bureau median household income data for the 100 biggest U.S. cities and all 50 states and determined middle class income ranges by using a variation of Pew Research's definition of a middle class household, stating the salary range is "two-thirds to double the median U.S. salary."

In the report's ranking of the U.S. cities with the highest household incomes needed to maintain a middle class status, Houston ranked No. 80.

In the report's state-by-state comparison, Texas has the 24th highest middle class income range. Overall, Texas households need to make between $53,147 and $159,442 to be labeled "middle class" in 2026. For additional context, the median income for a Texas household in 2024 came out to $79,721.

"Often, the expectations that come with the term 'middle class' include reaching home ownership, raising kids, the comfort of modest emergency funds and retirement savings, and the occasional splurge or vacation," the report said. "And as the median household income varies widely across the U.S. depending on the local job market, housing market, infrastructure and other factors, so does swing the bounds on what constitutes a middle class income in America."

What it takes to be middle class elsewhere around Texas

Two Dallas-Fort Worth suburbs – Frisco and Plano – have some of the highest middle class income ranges in the country for 2026, SmartAsset found.

Frisco households need to make between $96,963 and $290,888 to qualify as middle class this year, which is the third-highest middle class income range nationwide.

Plano's middle class income range is the eighth highest nationally, with households needing to make between $77,267 and $231,802 for the designation.

Salary range needed to be a middle class earner in other Texas cities:

  • No. 28 – Austin: between $60,287 and $180,860
  • No. 40 – Irving: between $56,566 and $169,698
  • No. 44 – Fort Worth: between $55,002 and $165,006
  • No. 57 – Garland: between $50,531 and $151,594
  • No. 60 – Arlington: between $49,592 and $148,77
  • No. 61 – Dallas: between $49,549 and $148,646
  • No. 73 – Corpus Christi: between $44,645 and $133,934
  • No. 77 – San Antonio: between $44,117 and $132,352
  • No. 83 – Lubbock: between $41,573 and $124,720
  • No. 84 – Laredo: between $41,013 and $123,038
  • No. 89 – El Paso: between $39,955 and $119,864
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This article originally appeared on CultureMap.com.

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