Harvey Raises $500M at $15.5B on 80% Revenue Surge

Cohere Health built Cohere Policy Studio using Amazon Bedrock AgentCore to automate the digitization of clinical policies that govern prior authorization in health insurance. Prior authorization remains largely manual because policies exist in static, unstructured formats across different health plans, geographies, and clinical areas. The solution uses a multi-tenant agentic architecture to convert these policies into machine-readable data, helping health plans meet CMS requirements for API-based electronic prior authorization by January 2027 and AHIP commitments for 80 percent real-time approvals.

Alibaba's Qwen 3.8-Max and Claude Opus 5 demonstrate that raw benchmark scores mask critical differences in time and token budgets that directly affect real-world costs. Independent testing shows models can appear mid-pack or last-place when constrained to realistic time limits, versus top-tier when given 5-16 times longer. The industry lacks standard metrics for measuring cost-per-successful-task, making model selection based on published benchmarks unreliable.

Liquid AI, a startup founded by former MIT computer scientists, released LFM2.5-2.6B, a 2.6 billion parameter language model designed to run on edge devices including Raspberry Pi without cloud infrastructure or GPUs. The model supports 128,000-token context windows and native tool calling, targeting agentic tasks like document management and workflow automation in regulated industries and connectivity-limited environments. Performance ranges from 30 tokens per second on smartphones to 220 tokens per second on Apple M5 Max, with the model available on Hugging Face under a custom open-weight license.

Canva, a design platform with over 200 million users, has encountered significant challenges with its AI feature rollout. The unexpected popularity of new AI tools drove up infrastructure costs, forcing the company to slow deployment to additional users and cut its annual revenue growth forecast to 20%. Additionally, Canva has lost user engagement to ChatGPT after OpenAI released an improved image model in April that proved more effective for design tasks.