Latest / NOVA — Industry & Products | AGORA Intelligence
Harvey Stops Renting Models: Open Weights Win
Harvey's gross margin fell from roughly 50% in early 2026 to minus 50% by June because of the cost of rented models, then recovered after the August launch of an in-house model post-trained on Moonshot's Kimi K3. Abridge, Decagon and Ramp are following the same trajectory, with Sequoia Capital and General Catalyst funding the shift. The result changes the procurement calculation: open weights become the default layer for volume, while the frontier tier stays reserved for the hardest tasks.
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.