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AI NewsLegal AI startup Legora hits $5.6B valuation and its battle with Harvey just got hotter

Legal AI startup Legora hits $5.6B valuation and its battle with Harvey just got hotter

2:21 AM IST · May 1, 2026

Legal AI startup Legora hits $5.6B valuation and its battle with Harvey just got hotter

Nvidia has laid a new brickin its AI empire. NVentures, its corporate VC fund, has backed Legora,reportedlyits first legal AI investment. Leveraging AI to help lawyers streamline their work, the Swedish-born legal tech startup is competing with U.S. playerHarvey. Alongside Atlassian and other new financial investors, NVentures joined Legora’s cap table as part of a$50 million Series D extensionthat comes a month after the startup’s$550 million Series D. In the interval, this Y Combinator alumcrossed $100 million in annual recurring revenue(ARR) — a milestone that contributed to its new $5.6 billion post-money valuation. This brings Legora’s valuation just a tad closer to Harvey’s, which reached $11 billion last month when Sequoiatripled downon its investment. Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil,Matt Miller’s Evantic, and Kleiner Perkins also participated in that round. Legora, too, is backed by high-profile VCs; but it puts even more emphasis on the big names it secured as clients, such as Bird & Bird, Cleary Gottlieb and Linklaters. According to the company, the platform it launched only 18 months ago is now used by more than 1,000 law firms and in-house legal teams across 50 markets. Harvey has game in that area too. Itclaims100,000 lawyers across 1,300 organization as customers, ranging from global law firms like Hengeler Mueller and Latham & Watkins to corporate legal teams at companies like T-Mobile and Bridgewater. With global leadership as the end goal, the Harvey v. Legora rivalry is one they intend to play on each other’s home turf. Legora has opened multiple offices around the world with the U.S. a key focus for its expansion. Conversely, Harveyis pushing into Europe. With plenty of capital to spend on both sides, that battle has moved to mindshare. Not long afterWinston Weinberg’s companyHarvey signed a brand partnershipwith actor Gabriel Macht, who plays a high-powered lawyer in the TV series Suits, Legora launched an advertising campaignfeaturing movie star Jude Lawunder the slogan “Law just got more attractive.” Both companies may be right to bet heavily on marketing. Rivalry aside, they are built on top of large language models made by AI giants who could well become their competitors. When Anthropiclaunched a legal plugin for Claudenot long ago, several publicly listed legal software companiessaw their stocks drop. Naturally, Legora CEO Max Junestrand says he isn’t concerned. “Foundation models are improving quickly, but the real value is in how they’re applied,” he wrote in a statement. It also shows how the startup instills FOMO among its target users, stating that “the legal teams that embed AI effectively today will shape how the industry evolves.” NVentures’ investment is also a signal that Legora might have enough of a moat to protect them from the model makers, and its bigger rival. However, Nvidia is also known for hedging its bets — after all, it invested bothin AnthropicandOpenAIbeforedeciding it has probably had enough.

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Cloudflare says AI made 1,100 jobs obsolete, even as revenue hit a record high

Cloudflare says AI made 1,100 jobs obsolete, even as revenue hit a record high

Cloudflare on Thursday joined a growing list of tech companies — including Meta, Microsoft, and Amazon — that have reported increased revenue alongside massive layoffs, attributing both trends to their use of AI. Cloudflare, which provides internet security and performance services to millions of websites worldwide, announced it was cutting its workforce by approximately 20%, which equates to 1,100 people, it said as part of its first quarter 2026 earnings report on Thursday. “We’ve never done something like this in Cloudflare’s history,” co-founder and CEO Matthew PrincesaidThursday on the quarterly conference call, marking the first mass layoff in the company’s 16-year history. The company is cutting people from all teams and geographies except for salespeople who carry revenue quotas, CFO Thomas Seifert detailed on the call. The news of the workforce cuts came as the companyreportedquarterly revenues of $639.8 million, a 34% year-over-year increase and the highest single quarter in the company’s history. However, this was coupled with a loss of $62.0 million compared with losing $53.2 million in the year-ago quarter. That widening loss, even as revenue surged, highlights a familiar paradox in Cloudflare’s story: the company is growing fast but has yet to turn a consistent profit. But the loss was a smaller percentage of revenue, and the quarter was coupled with a lot of other positive indicators. For instance, Cloudflare reported that it had over $2.5 billion in “remaining performance obligations,” a year-over-year growth of 34%. RPO is the favorite metric these days to indicate revenue under contract but not yet delivered. Hence, Prince insisted, the 20% cuts were not to reduce expenses but were strictly because of its use of AI. “Today’s actions are not a cost-cutting exercise or an assessment of individuals’ performance; they are about Cloudflare defining how a world-class, high-growth company operates and creates value in the agentic AI era,” Prince and Cloudflare co-founder and president, Michelle Zatlyn,wrotein a related blog post about the layoffs. Prince acknowledged on the call that even though Cloudflare has been selling AI-powered products, it was at first cautious about adopting AI itself. “Internally, the tipping point was last November. At that point, across our teams, we began to see massive productivity gains, team members that were two, 10, even 100 times more productive than they had been before. It was like going from a manual to an electric screwdriver,” he described. “Cloudflare’s usage of AI has increased by more than 600% in the last three months alone,” he added. Prince highlighted the internal use of AI coding, saying that virtually the entire R&D team is now using the company’s own Workers platform — a tool that lets developers build and run software directly on Cloudflare’s global network — including its vibe coding feature. He also noted that 100% of the code produced this way and deployed for use in Cloudflare’s products is “now reviewed by autonomous AI agents.” But it’s not just developers who are using AI internally, he said. “Employees across the company from engineering to HR to finance to marketing run thousands of AI agent sessions each day to get their work done.” As a result, these highly productive, AI-powered employees require fewer support staff, he argued. “A lot of the support people that provide support behind them, those roles aren’t going to be the roles that, you know, drive companies going forward,” Prince said. Interestingly, Prince says that Cloudflare “will continue to hire people, and we’ll continue to invest in them because the people that are embracing these tools are just so much more productive than we’d ever seen before. I would guess that in 2027 we’ll have more employees than we did at any point in 2026.” Cloudflare said it ended its first quarter before layoffs with a headcount of about 5,500. The pattern Prince described — deploying AI gains as justification for workforce reductions even during a period of strong revenue growth — is fast becoming a familiar script across the tech industry. Whether it reflects true structural transformation or acts as convenient cover for cost discipline is a question that investors and employees will be wrestling with for some time to come. When asked by an analyst on the call why the company needed to cut so deeply after such a good quarter, Prince said, “Just because you’re fit doesn’t mean you can’t get fitter.”

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Intel’s comeback story is even wilder than it seems

Intel’s comeback story is even wilder than it seems

Bloomberg has adeep divethis week into how Intel CEO Lip-Bu Tan is trying to rescue one of Silicon Valley’s most storied, and stumbling, chipmakers. It’s worth a read, but it actually undersells the most jaw-dropping part of the story: Intel’s stock has risen a stunning 490% over the past year, a bet by Wall Street that may be running well ahead of the company’s actual turnaround. Tan, who took over inMarch of last year, has spent much of his first year schmoozing rather than restructuring — locking in asweetheart dealwith the U.S. government (now Intel’s third-largest shareholder), cozying up to Elon Musk on afactory partnership, and reportedly landing preliminary manufacturing agreements with both Apple and Tesla. The fundamentals are still messy. Intel’s chip yields lag well behind industry leader TSMC, and employees tell Bloomberg that Tan has been light on specifics internally, with some teams adjusting missed deadlines rather than recovering from them. But investors are betting big on the bigger picture. Whether the execution follows is the multi-billion-dollar question.

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Last 24 hours to get 50% off a second pass to TechCrunch Disrupt 2026

Last 24 hours to get 50% off a second pass to TechCrunch Disrupt 2026

Today is the last day. At 11:59 p.m. PT, the 50% off second pass offer forTechCrunch Disrupt 2026ends. After that, prices go up, and the option to bring a partner, co-founder, or colleague with you at half the cost disappears. Register now to lock in your savings.Save up to $410 on your pass and get 50% on a second pass. Disruptisn’t a single-track experience. It’s multiple conversations happening at once. Sessions overlap. Introductions lead to something else an hour later. Patterns only become clear after you’ve seen the same idea from different angles. When you go alone, you see only part of it. When you bring someone, you see more, and more importantly, you understand more. You compare notes in real time, challenge assumptions, and make decisions while the context is still fresh.Get a discounted second pass now. You and your plus-one will have access to: That’s not a small difference. It’s the difference between leaving with ideas and leaving with direction for your next steps. And after tonight, that second perspective costs more. This is your last day to save 50% on a second pass.Choose your tickets. From October 13–15 in San Francisco atDisrupt,the startup world will be in the same place at the same time, turning conversations into capital, ideas into companies, and connections into trajectories. They’ll be trading signals, testing assumptions, and deciding what matters based on what they’re seeing in real time. When you act now to secure your pass —and a second at 50% off— you’ll be in the room while those decisions (and discussions) are taking shape. Across 250+ sessions, you’ll explore real-world playbooks (not theory), covering: Those conversations don’t pause when the event ends. They carry forward into follow-ups, deals, partnerships, and decisions made in the weeks that follow. If you’re not there, you’re not just missing the event. You’re reacting later to conclusions other people reached sooner.Buy a pass to Disrupt today and get a second one for 50%off to be a part of the conversations. Knowing you have a strong idea isn’t enough. You need clarity on where to take it, who to partner with, and how to fund it. Without that clarity, decisions stall. Roadmaps stretch. Opportunities sit just long enough to lose momentum. Disruptcompresses that uncertainty. You see how decisions get made — onstage, in roundtables, and in conversations that build on each other over three days. Better outcomes come from: Miss that window, and you’re back to piecing together secondhand insight, slower feedback loops, and decisions made without the same level of context. This is your final day to get a second pass for 50% off.Register now before prices increase at 11:59 p.m. ET tonight. After tonight, you can still attendDisrupt. But you’re more likely to go alone — and that changes the experience. It means choosing between sessions instead of covering more ground. Processing everything yourself instead of testing it in real time. Following up later instead of leaving with shared clarity. That’s the real cost. Not just paying more, but also getting less out of being there.Lock in your 50% savings on a second ticketto show up more intentionally. Only hours remain to buy a pass toDisruptand get a second for 50% off. The offer ends tonight at 11:59 p.m. PT. Right now, you can still: After today, that advantage is gone. Buy one pass to Disrupt andget 50% off the second of the same ticket type. Decide who you’re bringing — and secure your passes before midnight tonight. Because missing this isn’t just about price. It’s about showing up with less context, less coverage, and less clarity than the people who didn’t wait.

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The “people’s airline” and the enterprise AI gold rush

The “people’s airline” and the enterprise AI gold rush

Everyone wants a piece of the enterprise AI pie, and this week, we saw a string of companies making their moves. FromAnthropic and OpenAI announcing new joint venturestargeting enterprise AI deployment toSAP dropping $1Bon German AI startup Prior Labs, it’s becoming clear that if you’re a startup building enterprise tools, you’re likely an acquisition target. On this episode of TechCrunch’sEquitypodcast, hosts Kirsten Korosec, Anthony Ha, and Sean O’Kane dig into the week’s enterprise AI deals, thexAI-Anthropic compute arrangement, and what it all means ahead of what could be a big IPO season. Listen to the full episode to hear about: Subscribe to Equity onYouTube,Apple Podcasts,Overcast,Spotifyand all the casts. You also can follow Equity onXandThreads, at @EquityPod.

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