On May 27, the inaugural Frontiers of AI Summit took place at Cornell Tech, attracting nearly 300 researchers, industry leaders, and innovators to explore foundational research in artificial intelligence. Hosted by Cornell Tech and the Jacobs Technion-Cornell Institute, the event featured participants from renowned institutions such as Cornell University, Princeton University, and Columbia University, alongside startups and nonprofit organizations. Keynote speaker Kilian Q. Weinberger highlighted the limitations of current AI training models, suggesting a need for integrating broader reasoning with external knowledge sources to enhance reliability. Notably, Biohub researcher Roshan Rao introduced a new protein biology model that predicts over one billion proteins, which could significantly expedite scientific discovery. Industry representatives from startups like Cursor and Radical AI discussed the complexities of scaling AI technologies. The summit also addressed societal implications, with discussions on the potential risks of speculative investment in AI. Following the summit, a two-day academic symposium continued the conversation, focusing on the future of AI models and their transformative potential in scientific research.