Shares of CrowdStrike and Okta soared on Thursday after their earnings revealed that the adoption of artificial intelligence is prompting customers to increase spending on cybersecurity solutions.
Both companies exceeded expectations for the fiscal second quarter and raised their future forecasts, highlighting the rising threat of AI-driven cyberattacks. CrowdStrike’s stock jumped 15%, while Okta surged 21%.
The broader cybersecurity sector also saw gains, with companies like Palo Alto Networks, SailPoint, Zscaler, and Rubrik each climbing around 9%.
During an earnings call, CrowdStrike’s CEO emphasized the intensifying race in cybersecurity, stating, “AI is driving more cyberattacks, more cyber spending, and creating a clear divide between companies that solve problems and those that make them worse.”
Source (CNBC)
