THE CHEETAH BRIEF – 28th Edition
Legal AI company Harvey has launched a law school alliance program to integrate its generative AI technology into classrooms at participating schools, including Stanford, NYU, Michigan, UCLA, the University of Texas, and Notre Dame, with more schools invited to join. The program, offered free of charge, provides students, faculty, and administrators access to Harvey’s platform and support in developing AI-focused curricula during the 2025-2026 academic year. Harvey aims to help students build AI skills while increasing overall AI fluency. The initiative builds on a year-long pilot with select schools, which informed best practices for collaboration, emphasizing early involvement from deans, libraries, and faculty. The announcement comes amid Harvey’s other recent developments, including a partnership with LexisNexis and the creation of a local team in Mexico.
MARKET MOVEMENTS
Another Latham IP Litigator, Joseph Lee, jumps to Weil.
Akin launches Chicago office with Mayer Brown laterals, Wendy Gallegos and Jason Wagenmaker.
Covington IP Litigator, Alice Ahn, moves to Wilmer.
Sullivan & Cromwell antitrust special counsel, Bradley Smith, joints Gibson Dunn as partner.
FIRM SPOTLIGHT - AKIN GUMP STRAUSS HAUER & FELD LLP
Founded in Texas in 1945 by former FBI agents Richard Gump and Robert Strauss, Akin has grown from a two-lawyer practice into a global law firm with over 900 lawyers across 17 offices. The firm operates at the intersection of public policy, business, and law, offering full-service expertise across numerous industries and practice areas, including AI, corporate, cybersecurity, energy, healthcare, international trade, and white-collar defense. Akin also maintains one of the nation’s largest lobbying practices and employs many politically connected professionals, while several of its practice areas rank in the top 20 in Vault. Committed to wellness and community impact, the firm’s Be Well program promotes physical, mental, financial, and social health, and Akin continues a long-standing dedication to pro bono work and global service initiatives.
INDUSTRY INSIGHTS
Through the second quarter, demand was up by 2.6% for Second Hundred firms; for top-100 firms, it was down 0.6%. The Second Hundred profit growth through six months was at 13.4% — almost the same as the top 50 firms’ profit rise of 13.6%. That profit growth also came as the largest firms’ standard billing rate growth was “considerably higher”: 10.3% versus 6.8% among the Second Hundred.
·Law firm leases in major markets accounted for 61% of total firm leasing during the first half of 2025, 15% higher than during the same period in 2024. The collective 5.4 million square feet of leasing during the second quarter of 2025 was the second-highest quarter on record.
A recent survey conducted by Wells Fargo’s Legal Specialty Group indicates that Big Law, and especially the Am Law 50, pushed billing rate growth by 10.3% in the first half of the year. The Am Law 200, meanwhile, appears to have increased rates by an average of 9.2%.
Big Law lawyers in 2025, on average, work approximately 66 hours per with week, with high billable hour requirements of 2,200 to 2,400 hours annually.
INDUSTRY NEWS
Sullivan & Cromwell Makes Bold London Moves
Sullivan & Cromwell shook London’s legal market by hiring top corporate lawyers Kon Amisacopoulos and Mike Francies to strengthen its private capital practice. The firm plans a few more high-profile hires and promotions, though not on the scale of Paul Weiss’ aggressive London expansion. While its conservative culture may limit rapid growth, the moves signal a serious push to compete in the U.K.’s competitive private capital market. The hires have already generated significant interest among prospective lateral partners and market observers. Success, however, will depend on building a broad bench of senior talent across key practice areas.
Gunderson Dettmer Thrives with Focused VC Strategy
In a slower 2025 deal market, Gunderson Dettmer is bucking the trend of law firms diversifying by staying focused on its core venture capital and startup practice. Despite market fluctuations, the firm remains the top global VC law firm, leveraging decades of experience in the innovation economy and a strong brand to attract clients and talent. While its narrower focus makes it susceptible to market swings and lateral competition, Gunderson’s disciplined approach, profitable model, and selective recruiting have allowed it to maintain culture, expertise, and market dominance without pursuing large-scale expansion like other Am Law 200 firms.
