Goldman Sachs and JPMorgan invested Tuesday in Harvey, a legal artificial intelligence company, signaling Wall Street's growing conviction that AI will reshape how legal work gets done. The investments came from Goldman Sachs Alternatives and JPMorgan's Growth Equity Partners, Harvey said.
Harvey did not disclose the size of the investments. The company, founded in 2022, builds generative AI tools that assist lawyers with research, document drafting, and contract analysis.
What Harvey does
The investment underscores growing interest in AI for Legal Professionals. Harvey's platform allows law firms and in-house teams to use large language models for tasks such as due diligence, deposition summaries, and clause extraction.
Why this matters for legal professionals
Backing from two of the world's largest financial institutions signals that AI tools are becoming a mainstay in legal practice. For lawyers and paralegals, the investment likely means more advanced AI features and deeper integration into everyday workflows in the near term.
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