CrowdStrike, Fortinet and others surge on IBM warning of customer spending shift

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What happened: CrowdStrike ( CRWD ) stock surged more than 10% on Tuesday alongside other cybersecurity names. The Global X Cybersecurity ETF ( BUG ) jumped more than 6%. Fortinet ( FTNT ), Okta ( OKTA ), and Palo Alto Networks ( PANW ) also jumped during the session.

What's behind the move: IBM ( IBM ) warned earlier in the day that its enterprise customers had shifted spending away from traditional software in the most recent quarter.

How are cybersecurity concerns affecting enterprise spending priorities?

"In the last few weeks of June, we saw clients shift their quarterly capex spend toward servers, storage, and memory purchases to secure supply-constrained infrastructure ahead of expected price increases," IBM CEO Arvind Krishna said . He added that "rapidly-evolving, industry-wide cybersecurity concerns" also drew customer focus in the quarter.

Investors viewed the comments as a sign that businesses were not cutting back on cybersecurity despite their spending on AI.

What else you need to know: While companies may be reducing spending in some areas, other "must-have" expenses appear to be a priority, benefiting pure-play cybersecurity firms like CrowdStrike. The stock is up more than 90% year to date.

Despite concerns earlier this year that AI would disrupt traditional business models, cybersecurity companies have instead benefited from the rise of agentic AI, which is driving increased demand for verification and authentication.

Ines Ferre is a Senior Business Reporter for Yahoo Finance covering the US stock market, publicly traded companies, and commodities.

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Sinergia Empresarial continuará el seguimiento de esta información sobre crowdStrike, Fortinet and others surge on IBM warning of customer spending shift y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.