Corporate AI investment

Morgan & Morgan announced it will spend at least $1 billion on legal tech and AI over the next decade. The investment centers on MX2, its proprietary legal AI platform featuring agentic workflows, document drafting, and medical record extraction.

Clio acquired vLex for US$1 billion to integrate legal AI and extensive legal databases into its platform, creating the Intelligent Legal Work Platform.

Kirkland announced plans to spend $500 million over three to four years developing custom AI tools and services internally.

Kirkland & Ellis reportedly earmarked $500 million to build a proprietary AI platform called the Fund Formation Engine in partnership with Palantir. The bespoke tool embeds the firm's legal knowledge to automate repetitive elements of fund formation work, such as drafting limited partnership agreements and tracking compliance.

Kirkland & Ellis is co-developing an AI platform with Palantir as part of a multi-year technology partnership. The firm says the platform is part of a $500 million plan to build its own AI technology for private equity fund formation work.

Relativity says its continued R&D investment fuels its cloud-native, AI-powered platform and related legal data work. It also says Rel Labs is its innovation hub and investment arm for legal AI startups.

Blackstone’s in-house legal team is collaborating with Norm Law, which is built to deliver AI-native legal services. The article says the firm was being built in collaboration with Blackstone’s internal legal team, and separately notes Blackstone invested $50 million in Norm Ai, an affiliated company that makes AI agents.

Norm Ai received a $50 million investment from Blackstone and Stonecroft Management to bolster its AI development and launch Norm Law, a new New York-based LLP. The firm’s attorneys will customize and oversee the work of Norm Ai’s regulatory agents.

Norm Law launched as an AI-native law firm backed by a $50 million investment from Blackstone. It subsequently recruited several senior BigLaw partners across private equity, real estate, and transactional practices.

Thomson Reuters built its first proprietary proprietary large language model, named Thomson, in-house. The company invested $40 million in talent and compute to train the model for its core legal use cases.

Goodwin Procter has set aside $25 million annually for artificial intelligence.

Goodwin announced it will spend about $25 million a year to buy and develop its own AI tools and platforms. The firm has already rolled out a venture financing tool as part of this initiative.

McDermott Will & Schulte reinvests as an anchor investor in The LegalTech Fund's second fund, putting $10 million behind legal technology innovation. The firm says the partnership gives it access to the latest innovations shaping the future of law and helps it deliver more value for clients.

The Supreme Court made its first AI-related budget request of about ¥60 million (US$375,000) to test whether generative AI can draft summaries and lists of contested issues from civil lawsuit records.

Khaitan & Co deployed AI tools within secure, private enterprise environments to maintain a controlled data perimeter for legal work.

Trilegal developed and deployed Lucio, an internal AI tool that ensures client data remains within the firm's private cloud.

Kirkland & Ellis committed USD 500 million over the next three to four years to build its own internal AI platform.

Freshfields partnered with Anthropic to jointly develop AI tools for legal work, alongside deploying commercial platforms like Harvey and Legora.

Burges Salmon adopted the Harvey legal AI tool for internal practice deployment.

Slaughter and May adopted the Harvey AI platform across all of its practice areas.