We give an overview of recent developments in physics-informed AI and big data that are transforming the prediction of climate and weather in applications ranging from climate risk modeling for insurance to real-time forecasting for energy. Traditional climate and weather models require computationally expensive simulation of physical laws on supercomputers with hours to days of processing time and have limited capacity to incorporate ground-truth data sources. The development of cloud-based AI workflows based on deep neural networks provides an alternative approach to develop physical emulators of climate and weather processes that are highly scalable and natively tuned to utilize the petabytes of remote-sensing, ground-based and numerical simulation data from Earth observation that are generated daily. We present work that we are doing at Terrafuse AI, a startup out of Berkeley National Lab, to develop an AI-native climate risk and forecasting platform for problems ranging from high-resolution mapping of wildfire risk in California to real-time wind forecasting for aviation and renewable energy.