AI Agent · Mythos · Israel · CNBC Technology
Earlier this year, Palo Alto closed its mega $25 billion acquisition of Israeli identity security company CyberArk
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Now, to protect their platforms from extremely capable and abundant AI agents able to conduct cyber-attacks in a matter of seconds, companies are turning to the cyber leaders for protection.
Key facts
- Earlier this year, Palo Alto closed its mega $25 billion acquisition of Israeli identity security company CyberArk, while CrowdStrike bet on startup SGNL
- CrowdStrike and Palo Alto rallied 95% and 113%, respectively, between April and June for their best quarter on record, as new artificial intelligence tools have spiked demand for more sophisticated
- What the Mythos moment proved is that the world, starting from the frontier AI labs themselves, realized that AI needs a cybersecurity ecosystem," CrowdStrike CEO George Kurtz told analysts earlier
- They're the best positioned to continue to gain market share from a product perspective," said TD Cowen analyst Shaul Eyal
Summary
It's been a good quarter for technology stocks, and cybersecurity leaders Palo Alto Networks and CrowdStrike have both joined the historic rally. CrowdStrike and Palo Alto rallied 95% and 113%, respectively, between April and June for their best quarter on record, as new artificial intelligence tools have spiked demand for more sophisticated cyber defense. Driving that demand is the onslaught of Mythos-class models capable of being used by hackers to uncover software vulnerabilities and launch full-scale attacks. "What the Mythos moment proved is that the world, starting from the frontier AI labs themselves, realized that AI needs a cybersecurity ecosystem," CrowdStrike CEO George Kurtz told analysts earlier this month on an earnings call. Over the last few months, CrowdStrike and Palo Alto have positioned themselves at the forefront of the AI cyber race through Mythos, the model deemed too powerful to release to the public.