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AI startup Harvey is in discussions to raise $600 million as it considers acquiring PE-backed legal research provider vLex. The potential acquisition aims to leverage vLex's legal data to enhance Harvey's large language models (LLMs) and better compete with rivals that already have access to similar data. The funding round values Harvey at over $2 billion. Harvey specializes in generative AI tools for law firms, which are designed to improve productivity by functioning as junior employees or enhancing the capabilities of junior staff.
Harvey is the AI company whose prospects I’m most bullish on. The legal industry is well suited as a target for “AI as junior employee” and “AI as level up tool for juniors” which I consider as the most likely ways generative AI can make businesses more productive. https://t.co/tM8YuYrDts
Vertical specific A.I tools for the win, Harvey (shoutout to Suits) $2B+ valuation https://t.co/XIzqYI44J5
Source: Harvey, which builds generative AI tools for law firms, is in talks to raise $600M at a $2B+ valuation and mulls buying legal research company vLex (The Information) https://t.co/zLtEMt70nc 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/qAMBs1UUTI
