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Cybersecurity stocks rally as IBM signals deals paused into quarter end
CNBC reports IBM CEO Arvind Krishna said some large deals were delayed late in the quarter as companies reassess spending, lifting sentiment for cybersecurity names tied to AI.
Cybersecurity stocks rose as investors reacted to comments from IBM CEO Arvind Krishna about how technology spending is shifting near quarter end, according to CNBC Markets.
In an interview with CNBC’s Sara Eisen, Krishna said some major deals were put on hold toward the end of the quarter as businesses rethink their spending plans.
CNBC Markets also linked the renewed momentum in cybersecurity stocks to expectations that organizations will continue allocating budgets toward AI-related initiatives despite changes in timing for specific deals.