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Okta's shares climbed nearly 29% and CrowdStrike posted the best single trading session in its history, both companies disclosed after earnings results showed a rising AI threat driving higher customer spending on cybersecurity tools.
AI adoption is pushing customers to spend more on cybersecurity products from companies such as CrowdStrike and Okta, according to the results.
As AI use expands, the threat environment enterprises need to defend against expands with it. Both companies' earnings reflected that shift in customer spending.
CrowdStrike's session gain has no prior equal in the company's public-market history. The mark reflects investor pricing of results that showed AI-related security demand producing revenue.
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