Kirkland & Ellis has set aside $500mn to create its own AI platform, as the world’s highest-grossing law firm seeks to develop proprietary technology rather than rely only on tools available to its competitors. The US-based firm expects to spend more than $100mn this year and hundreds of millions more in the next three to four years developing custom AI…
As the use of artificial intelligence (AI) across industries increases rapidly, many boards of directors are considering whether they have the expertise necessary to maintain effective oversight of AI-related opportunities and risks. As the SEC has made clear regarding cybersecurity, boards must find a way to exercise their supervisory obligations, even in technical areas, if those areas present enterprise risks. A frequent question in this context is whether boards should have a director who is an “AI expert.”
In this Debevoise Update, we highlight three considerations for boards evaluating the need for AI expertise in the boardroom.
Source: Board Oversight of AI: Do Boards Need AI Experts? | Debevoise & Plimpton LLP
Anthropic PBC’s new artificial intelligence model Mythos could put traders and the broader financial system at risk through a Securities and Exchange Commission database, the American Securities Association said Thursday.
The financial-industry trade group warned of the potential for bad actors to target the so-called Consolidated Audit Trail with AI tools and conduct mass identity theft, expose individuals’ trading portfolios and amplify insider threats. The group has long been a foe of the controversial market-tracking database.
“The CAT was not designed to withstand the threat environment that Anthropic’s Mythos has now made real,” ASA President Chris Iacovella wrote to Treasury Secretary Scott Bessent, who also serves as chairman of the Financial Stability Oversight Council.
Source: Anthropic’s Mythos AI Raises Security Concerns Over SEC Audit Trail, ASA Warns – Bloomberg
Allbirds Inc., the once-buzzy maker of wool sneakers valued at more than $4 billion in its heyday, announced a new business plan just days before it was set to close down for good: AI computing infrastructure.
And in a stock market that’s reacted in knee-jerk fashion to just about anything related to artificial intelligence, it did just that — sending Allbirds shares up 582% by the time the trading day ended Wednesday.
Source: Allbirds Stock Rises After Rebranding as NewBird AI – Bloomberg
none of these 50 lawyers wrote code before they joined Norm. now they build the Norm product every day.
we call them Legal Engineers. attorneys from Kirkland, Cravath, Paul Weiss, Sullivan & Cromwell, Skadden, Davis Polk (and most of the top-20 firms) trained through a rigorous certification program to embed deep domain knowledge directly into AI agents.
the only way to truly trust a legal AI agent is to have it built and tested by lawyers who understand exactly what is at stake. so we built that cybernetic system.
our team of software engineers develops the protocols and infrastructure to enable this. then our legal engineers get to work developing legal ai agents and testing them against their own knowledge and the knowledge of Partners inside Norm Law, the premier ai-native law firm we built for institutional clients.
The rise of Artificial Intelligence (AI)-based tools and applications has also meant the rise in AI-related infrastructure, such as data centers and power generation support. And just as we have seen the rise of securities litigation relating to companies’ adoption of AI tools and processes, we have also seen securities suits relating to AI infrastructure development.
In the latest example of this kind of AI infrastructure-related litigation, on March 20, 2026, a plaintiff shareholder filed a securities class action lawsuit against the engine and power systems company Power Solutions International, alleging that the company’s new strategy of providing power generation solutions for AI data centers had fallen short of the company’s representations. A copy of the new complaint against Power Solutions can be found here.
Source: Power Supply Company Hit with AI-Related Securities Suit | The D&O Diary
A key defense to insider trading is that the defendant did not trade “on the basis of” MNPI. The defendant might claim that the trading decision was based on a factor independent of MNPI, and AI tools could provide that independent factor. For example, the defendant could establish that the trades were part of a routine investment strategy or diversification…
Accenture has begun monitoring staff use of its AI tools as part of how it decides top-level promotions, as consultancies push reluctant employees to adopt the technology. The Dublin-headquartered firm told associate directors and senior managers that promotion to leadership positions would require “regular adoption” of AI, according to people familiar with the matter and an internal email seen by…
The SEC Embraced AI Internally with AI Task Force and Chief AI Officer One of the clearest 2025 developments was institutional when the SEC announced the creation of an AI Task Force to centralize and accelerate responsible AI integration across the SEC, with an emphasis on governance and lifecycle management. The SEC also publicly identified its Chief AI Officer as…
Some of the biggest names behind the artificial intelligence boom are looking to stack Congress with allies who support lighter regulation of the emerging technology by drawing on the crypto industry’s 2024 election success. Marc Andreessen, Ben Horowitz and OpenAI co-founder Greg Brockman are among tech leaders who’ve poured $50 million into a new super political action committee to help…