Netomi Raises $110M as Legal AI Valuations Surge to $5.6B

Netomi Secures $110 Million in Enterprise AI Push

San Francisco-based AI customer service startup Netomi on Thursday announced a $110 million funding round led by Accenture Ventures, with participation from Adobe Ventures, WndrCo, Silver Lake Waterman, NAVER Ventures, Metis Strategy, and Fin Capital. According to VentureBeat, Jeffrey Katzenberg, managing partner of WndrCo and co-founder of DreamWorks, has joined the company’s board.

The round builds on early backing from notable AI figures including OpenAI co-founder Greg Brockman, Google DeepMind co-founder Demis Hassabis, and Microsoft AI CEO Mustafa Suleyman. The financing positions Netomi to compete in an increasingly crowded enterprise AI market where companies must prove their systems work in complex, regulated business environments rather than just demonstrations.

Netomi’s customer service AI platform faces competition from Sierra, the AI agent startup led by former Salesforce co-CEO Bret Taylor, which raised $350 million at a $10 billion valuation in September 2025 and has made three acquisitions in 2026.

Legal AI Startup Legora Hits $5.6 Billion Valuation

Swedish legal AI startup Legora reached a $5.6 billion post-money valuation following a $50 million Series D extension, according to TechCrunch. The round came one month after the company’s $550 million Series D and included new investors Nvidia’s NVentures corporate VC fund and Atlassian.

Legora crossed $100 million in annual recurring revenue (ARR) between funding rounds, marking a significant milestone for the Y Combinator alum launched just 18 months ago. The platform now serves more than 1,000 law firms and in-house legal teams across 50 markets, including major clients like Bird & Bird, Cleary Gottlieb, and Linklaters.

The valuation brings Legora closer to rival Harvey, which reached $11 billion last month when Sequoia tripled down on its investment. Harvey claims 100,000 lawyers across 1,300 organizations as customers, including global law firms like Hengeler Mueller and Latham & Watkins, plus corporate legal teams at T-Mobile and Bridgewater.

Apple Increases R&D Spending to 10.3% of Revenue

Apple’s research and development investments reached 10.3% of revenue in the March quarter, marking a significant increase as the company accelerates AI development efforts. CNBC reported the spending surge puts Apple closer to other megacap tech companies on R&D investment levels, though the iPhone maker maintains a different approach to capital expenditures.

“That’s a sign that Apple is seeing a sense of urgency around new AI products,” Gene Munster, managing partner at Deepwater Asset Management, told CNBC. The increased spending reflects Apple’s efforts to catch up in the AI race after initially taking a more cautious approach compared to competitors like Google, Microsoft, and Meta.

The R&D investment increase comes as Apple faces pressure to demonstrate meaningful AI capabilities across its product ecosystem, particularly following the launch of Apple Intelligence features that have received mixed reception from users and developers.

Nvidia Expands Partnership Strategy with Corning Deal

Nvidia and Corning announced a major optical fiber partnership that will see Corning open three new advanced manufacturing plants in the U.S. dedicated entirely to optical technologies for Nvidia. According to CNBC, the collaboration brings together two infrastructure companies benefiting significantly from the AI boom.

Corning shares have surged more than 250% in the past year, boosted by recent deals including a contract with Meta worth up to $6 billion. The Nvidia partnership addresses growing demand for high-speed optical interconnects needed in AI data centers, where massive amounts of data must move between GPUs and servers with minimal latency.

The deal represents Nvidia’s broader strategy of securing critical supply chain components as AI infrastructure demands continue growing. Optical fiber technology becomes increasingly important as AI models require more computational resources and data center interconnect speeds.

Uber CEO Discusses AI Integration and Platform Expansion

Uber CEO Dara Khosrowshahi outlined the company’s vision for becoming an “everything app” during The Verge’s annual interview, highlighting new services including hotel booking through a partnership with Expedia, in-car coffee and snacks, and personal shopping capabilities.

Khosrowshahi addressed concerns about AI companies potentially disrupting Uber’s business model through chatbots that could book transportation directly. Instead of viewing AI as a threat, the CEO expressed openness to partnerships while emphasizing Uber’s focus on owning more of the user experience across travel and logistics.

The platform expansion comes as Uber seeks to diversify revenue streams beyond ride-hailing and food delivery. The company’s strategy involves leveraging its existing driver and delivery network to offer additional services, potentially creating higher customer lifetime value and reducing dependence on core transportation services.

What This Means

The funding announcements signal continued investor confidence in enterprise AI applications, particularly in customer service and legal sectors where AI can demonstrate clear ROI through automation and efficiency gains. Netomi’s $110 million round and Legora’s $5.6 billion valuation highlight how specialized AI companies are attracting significant capital by focusing on specific professional workflows rather than general-purpose AI.

Apple’s increased R&D spending to 10.3% of revenue indicates the company recognizes the urgency of the AI transition and is willing to invest heavily to remain competitive. This represents a notable shift for Apple, which historically maintained lower R&D ratios compared to other tech giants.

The Nvidia-Corning partnership demonstrates how AI infrastructure demands are creating opportunities across the technology supply chain, from semiconductors to optical components. As AI workloads continue growing, companies providing critical infrastructure components are securing long-term partnerships and significant revenue opportunities.

FAQ

What makes Legora different from Harvey in the legal AI space?
Legora focuses on serving over 1,000 law firms across 50 markets with a platform launched 18 months ago, while Harvey claims 100,000 lawyers across 1,300 organizations. Both companies target similar markets but Harvey currently has a higher $11 billion valuation compared to Legora’s $5.6 billion.

Why is Apple increasing R&D spending so dramatically?
Apple’s R&D spending reached 10.3% of revenue as the company accelerates AI development to catch up with competitors like Google and Microsoft. The increased investment reflects what analysts call a “sense of urgency” around developing competitive AI products across Apple’s ecosystem.

How significant is the Nvidia-Corning optical fiber partnership?
The partnership involves Corning opening three new U.S. manufacturing plants dedicated to Nvidia’s optical technology needs, addressing critical AI data center infrastructure requirements. This follows Corning’s recent deals including a $6 billion contract with Meta, showing how AI infrastructure demands are driving major supply chain investments.