Palo Alto Networks teams up with Google on AI-enabled cybersecurity

Palo Alto Networks Inc (NASDAQ: PANW) is in the green at writing after announcing to have expanded its partnership with Alphabet Inc (NASDAQ: GOOGL).

Details of $PANW - $GOOGL partnership

The new agreement it signed with Google at the latter’s cloud computing event this morning aims at revolutionising cybersecurity with artificial intelligence.

$PANW committed “ten-figure” over several years to Google Cloud that it named its “AI and infrastructure provider” on Tuesday.

Executives at Palo Alto Networks and $GOOGL are convinced that working together will “create value” for their customers.

The news arrives only a day after famed investor Jim Cramer took a bullish tone on Alphabet stock as “it’s got too much going for it”. He’s confident that Google has “many ways” to fix its ongoing problems.

Palo Alto Networks CEO comments

Note that Palo Alto Networks has been working with Google Cloud on transforming cybersecurity since 2018. Nikesh Arora – its chief executive said in a press release today:

$PANW is scheduled to report its financial results for the third quarter in May. Consensus is for it to earn 57 cents a share versus 38 cents per share a year ago.

Wall Street currently has a consensus “overweight” rating on Palo Alto Networks stock that’s currently down close to 30% versus its year-to-date low in early February.