Overview
- CrowdStrike shares jumped about 24 points after Anthropic announced Project Glass Wing, a security partnership with CrowdStrike and Palo Alto Networks to protect Anthropic users.
- Before the partnership news, CrowdStrike fell more than 5% as some investors feared Anthropic’s autonomous AI agents could replace the subscription security tools that CrowdStrike sells.
- Fresh U.S. data showing slower GDP growth and a cautious demand outlook from rival Zscaler added pressure to cybersecurity stocks.
- CrowdStrike expanded its share repurchase plan, but reports of stock sales by top executives undercut that show of confidence for some investors.
- CNBC’s Jim Cramer argued that AI raises the need for established defenses and said Anthropic needs CrowdStrike, and CEO George Kurtz said the spread of AI will drive more demand for protection even as the stock remains down about 15.8% this year.