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UK monitors supply chain risks after Jaguar Land Rover cyberattack halts production

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The UK government said Friday it is working with Jaguar Land Rover (JLR) to assess the fallout of a cyberattack that has kept the automaker’s factories offline for more than three weeks. JLR, Britain’s largest carmaker, confirmed its plants will remain shut until at least September 24, extending the disruption first triggered in early September when production was halted to contain the breach.

The shutdown has sparked growing concern over the impact on JLR’s extensive supply chain, which supports 104,000 jobs across the country, many of them at small and medium-sized firms. The Unite trade union has warned the stoppage could lead to layoffs if the disruption persists and has called for government intervention to protect workers.

In a joint statement, the government and the Society of Motor Manufacturers and Traders (SMMT) said officials, including national cyber experts, are directly supporting JLR’s recovery efforts and working to evaluate the knock-on effects across the industry.

The incident underscores the vulnerability of major manufacturing operations to cyberattacks and the risks they pose to national supply chains, especially in sectors where thousands of smaller firms depend on the output of a single large manufacturer.

Netskope hits $8.8 billion valuation in Nasdaq debut as shares surge

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Cybersecurity firm Netskope debuted on the Nasdaq on Thursday with a market valuation of $8.79 billion, as its shares surged 21% above the initial offer price. The Santa Clara–based company priced its IPO at $19 per share, raising $908.2 million by selling 47.8 million shares. The stock opened at $23, reflecting strong investor appetite.

The U.S. IPO market is experiencing its strongest wave in years, with recent successes like Figma highlighting pent-up demand. Netskope’s appeal is fueled by rising corporate spending on cybersecurity, especially as AI-driven threats expand. “AI is right in our wheelhouse … enabling companies to leverage it safely,” CEO Sanjay Beri told Reuters.

Founded in 2012, Netskope delivers cloud-based security solutions that protect apps, data, and websites. The company had previously been valued at $7.5 billion in a 2021 ICONIQ-led funding round. Beri noted that the IPO was oversubscribed 20 times and that going public will expand Netskope’s visibility in the market.

Analysts caution that despite the sector’s strong demand, IPO performances remain mixed. Rubrik has soared since listing, while SailPoint has struggled. Netskope’s future success will hinge on its profitability path and ability to navigate a competitive market against rivals like Palo Alto Networks and Zscaler.

Netskope hits $8.8B valuation as shares soar in Nasdaq debut

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Cybersecurity company Netskope reached a valuation of $8.79 billion on Thursday after its shares jumped 21% in their Nasdaq debut, extending a strong run of tech IPOs this year.

The Santa Clara-based firm’s stock opened at $23, well above the $19 offer price. Netskope raised $908.2 million by selling 47.8 million shares at the top of its $17–$19 range, in an offering that was oversubscribed 20 times, according to CEO Sanjay Beri.

Investor appetite for new issues has surged, with recent listings such as design software firm Figma (FIG.N) drawing strong demand. Netskope’s debut comes as enterprises step up cybersecurity spending amid rising AI-driven threats.

“AI is kind of right in our wheelhouse—securing it, enabling companies to say yes to leveraging it by putting guardrails around it,” Beri told Reuters, adding that going public will help boost Netskope’s visibility.

Founded in 2012, Netskope offers cloud-based security solutions that protect apps, websites, and data. The company was last valued at over $7.5 billion in a 2021 round led by ICONIQ. Its competitors include Palo Alto Networks (PANW.O) and Zscaler (ZS.O).

Analysts caution that Netskope’s long-term success will hinge on profitability, execution, and broader market conditions. “Cybersecurity remains one of the few tech sectors with clear structural demand, yet recent IPO performances have been mixed,” said Kat Liu of IPOX.

While Rubrik (RBRK.N) shares have surged since their debut last year, SailPoint (SAIL.O) has struggled to trade above its offer price. Netskope’s performance will be closely watched as a bellwether for the sector.