In a Wednesday interview with CNBC’s Jim Cramer, CrowdStrike CEO George Kurtz described how it serves customers who are using legacy technology from other companies.
“One of the things that I talked about in my…prepared remarks on the earnings call was this concept of a monoculture,” Kurtz said. “Customers are at risk when they are basically buying security from their application security provider and their cloud provider, and you’re buying legacy technology.”
The cybersecurity company released its quarterly report Tuesday night. It beat earnings and revenue expectations and posted a strong outlook. Shares popped on Wednesday in response, up nearly 12% by close.
Kurtz said Crowdstrike developed a program to further protect customers who use security services from outfits like Microsoft, adding that it is an “entry point for us into a customer account.” He also said Broadcom had legacy technology in their portfolio, and its customers were approaching CrowdStrike for “something more modern.”
According to Kurtz, quality cybersecurity programs are especially necessary as the artificial intelligence landscape expands rapidly.
“You’re going to need security to secure all these AI workloads, and this is just another accelerant in the boom for cloud security, which is an area that we play heavily,” he said. “The bad guys can use gen AI, and we use it to stop the bad guys.”
Microsoft and Broadcom did not immediately respond to request for comment.
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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Microsoft and Broadcom.
Eugen Boglaru is an AI aficionado covering the fascinating and rapidly advancing field of Artificial Intelligence. From machine learning breakthroughs to ethical considerations, Eugen provides readers with a deep dive into the world of AI, demystifying complex concepts and exploring the transformative impact of intelligent technologies.
