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Palo Alto to Dual-List in Tel Aviv After $25B CyberArk Deal

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Palo Alto Networks will begin trading its shares on the Tel Aviv Stock Exchange following the completion of its $25 billion acquisition of Israeli cybersecurity firm CyberArk Software.

Already listed on Nasdaq, Palo Alto said the dual listing will make it the largest company by market capitalization on the Tel Aviv Stock Exchange, with a current valuation of approximately $115 billion. The company plans to trade under the ticker symbol “CYBR” in Tel Aviv, though it has not disclosed a listing date.

Under the acquisition terms, CyberArk shareholders will receive $45 in cash plus 2.2005 shares of Palo Alto Networks common stock for each CyberArk ordinary share. The deal marks Palo Alto’s largest acquisition to date and significantly strengthens its Israeli research and development footprint, which is already its largest outside Silicon Valley.

CEO Nikesh Arora is positioning the company as a comprehensive cybersecurity platform provider, aiming to capitalize on increasing demand fueled by artificial intelligence-driven threats and digital transformation.

The Tel Aviv Stock Exchange welcomed the move, describing it as a milestone for Israel’s capital markets. The listing will provide Israeli institutional and retail investors with direct access to Palo Alto shares while preserving CyberArk’s identity within the group.

Meanwhile, rival Check Point Software Technologies confirmed it will remain solely listed on Nasdaq.

Open-source AI models exposed to criminal misuse, researchers warn

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Open-source artificial intelligence models are increasingly vulnerable to criminal misuse, as hackers can take control of computers running large language models outside the safeguards used by major AI platforms, according to new research released on Thursday. Researchers warned that compromised systems could be used for spam campaigns, phishing, disinformation, fraud, and other illicit activities while evading standard security controls.

The study was conducted over 293 days by cybersecurity firms SentinelOne and Censys, and examined thousands of internet-accessible deployments of open-source large language models. The researchers identified a wide range of potentially harmful use cases, including hacking, harassment, hate speech, theft of personal data, scams, and in some instances severe illegal content. They said hundreds of models appeared to have safety guardrails deliberately removed.

While thousands of open-source AI variants exist, a significant share of publicly accessible systems were based on models such as Meta’s Llama and Google DeepMind’s Gemma. The analysis focused on models deployed using Ollama, a tool that allows organizations to run their own AI systems. System prompts were visible in about a quarter of observed deployments, and 7.5% of those prompts could potentially enable harmful activity.

Researchers said roughly 30% of the identified systems were hosted in China and about 20% in the United States. Industry experts stressed that responsibility for mitigating risks must be shared across developers, deployers, and security teams, warning that unchecked open-source capacity poses growing global security concerns.

Nike says it is investigating possible data breach

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Nike said it is investigating a potential data breach after a cybercrime group claimed to have leaked a large volume of data linked to the company’s business operations. The sportswear giant said consumer privacy and data security remain a priority as it assesses the situation and works to understand the scope of the incident.

The ransomware group World Leaks alleged it had published around 1.4 terabytes of Nike-related data. The claim could not be independently verified, and the company declined to comment on whether any ransom demand had been made or paid. It was also unclear whether the incident affected data connected to Nike’s wholesale partners.

The investigation comes at a sensitive time for Nike, which has been working to regain market share lost to smaller rivals. Data breaches have increasingly disrupted major corporations in recent years, often leading to heavy financial losses and operational damage.