“Every time we see a new model, every time we see a step forward, we’re actually in a better position,” Sean Fitzpatrick, CEO of the global legal business of LexisNexis

Shares of LexisNexis’s parent company Relx are down roughly 17% since the start of the year.
A top exec told Business Insider that LexisNexis isn’t doomed because AI model makers lack its proprietary data.
Relx recently attributed growth in its law firm and corporate legal business to customers adopting its AI tools.

The AI boom has been hammering LexisNexis on Wall Street. The legal-software giant says its fundamentals tell a different story.

“Every time we see a new model, every time we see a step forward, we’re actually in a better position,” Sean Fitzpatrick, CEO of the global legal business of LexisNexis, told Business Insider.

In recent weeks, many software companies, including LexisNexis’s parent Relx have seen their stocks plunge over investor fears that AI poses an existential threat.

Shares of Relx fell about 14% on February 3, the day after the AI startup Anthropic rolled out a new plug-in for its Claude Cowork agent that can draft legal briefs and analyze contracts. The London-based company’s shares are down roughly 17% since the start of the year.

‘Authoritative content’

Fitzpatrick said investors are wrong about LexisNexis because AI model makers simply aren’t equipped to compete with it.

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