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On October 30, 2026, legal AI startup Crosby submitted a letter of intent to acquire the internal data, trademarks, and brand of the dissolving Wall Street law firm Weil, Gotshal & Manges, and to recruit some of its lawyers. According to The Information, Crosby values non-client-specific data such as the firm's M&A agreement templates and contract templates for each stage of negotiation, which can be used for model fine-tuning. Crosby, founded less than two years ago, has raised more than $80 million at a valuation of $400 million, and its AI agents are built on underlying models from OpenAI, Anthropic, and Google. No further developments have been disclosed.
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Century-Old Law Firm Weil Gotshal Dissolves, Legal AI Startup Crosby Submits Letter of Intent to AcquireDevelopments
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Oct 30
Wallstreetcn
Century-Old Law Firm Weil Gotshal Dissolves, Legal AI Startup Crosby Submits Letter of Intent to Acquire
Wall Street law firm Weil, Gotshal & Manges has announced its dissolution, and legal AI startup Crosby has submitted a letter of intent to acquire its internal data, trademarks and brand, and to recruit some of its lawyers. According to The Information, what Crosby values is non-client-specific data such as the firm's M&A agreement templates and contract templates for each stage of negotiations, which can be used for model fine-tuning. Crosby has been founded for less than two years, has raised more than $80 million, and is valued at $400 million; its AI agents connect to the underlying models of OpenAI, Anthropic and Google.