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Benzinga

Business

Chandrima Sanyal

IBM Says AI Spending Isn't Crowding Out Cybersecurity. These ETFs Are Gaining Momentum

Cybersecurity IBM ETF Artificial Intelligence CrowdStrike NYSE Fortinet Palo Alto Networks First Trust Okta

Cybersecurity Phishing Scam Hacker Concept

The artificial intelligence trade may be broadening beyond chips and servers, with cybersecurity emerging as one of the biggest secondary beneficiaries. A sharp rally in cybersecurity stocks on Tuesday suggested investors increasingly view security spending as a necessary companion to AI adoption rather than a competing budget item. Cybersecurity ETFs were quick to reflect the sentiment, rallying sharply Tuesday after IBM Corp. (NYSE:IBM) suggested enterprise customers continue to prioritize cybersecurity spending even as they ramp up investments in AI infrastructure, reinforcing the view that security remains a key beneficiary of the artificial intelligence boom.

CrowdStrike Holdings Inc. (NASDAQ:CRWD) surged more than 11%, while Okta Inc. (NASDAQ:OKTA) and Palo Alto Networks Inc. (NASDAQ:PANW) also posted strong gains of 10% and 7% respectively. Meanwhile, Fortinet Inc. (NASDAQ:FTNT) also was up more than 3%.

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