CrowdStrike, Palo Alto Stocks Surge — Anthropic’s Latest AI Rollout Turns Into Tailwind For Once

• CRWD posted its best day in over six months.
• JPMorgan named PANW as its top pick in the cybersecurity space.
• Stocktwits retail sentiment shifted to ‘extremely bullish’ for CRWD and ‘bullish’ for PANW.

AI startup Anthropic’s announcements typically trigger a selloff in software and cybersecurity stocks, but that was not the case on Tuesday.

The Claude AI developer announced a new cybersecurity initiative called Project Glasswing, in which several partners would gain access to its yet-to-be-released Mythos Preview AI model for “defensive purposes.”

Shares of CrowdStrike and Palo Alto Networks, named partners in the project, surged sharply on the news. CRWD gained 6.2% in its best single-day performance in over six months, while PANW gained nearly 5%.

The stocks rose a further 2.4% in the overnight session heading into Wednesday, after the U.S. announced a temporary ceasefire deal with Iran, lifting market sentiment. 

The moves are notable, as CrowdStrike and Palo Networks have seen their stocks drop 9.7% and 7.8%, respectively, year to date, amid fears that improved AI models from companies like Anthropic and OpenAI would reduce demand for their cybersecurity solutions.

Those concerns specifically hit the cybersecurity space on March 27 after Fortune reported that Anthropic was developing the new Claude model, Mythos.

What Is Anthropic’s Project Glasswing?

“We have launched Project Glasswing, an effort to use Mythos Preview to help secure the world’s most critical software, and to prepare the industry for the practices we all will need to adopt to keep ahead of cyberattackers,” Anthropic said in a blog post on Tuesday.

Other partners in the project include Nvidia, Amazon Web Services, Apple, Google, and Microsoft. The blog also revealed various technical aspects of the model.

Analyst, Retail View On CRWD, PANW

JPMorgan announced Palo Alto as its top pick in the cybersecurity space, and expects the shares to rip higher as the company positions its platform as a critical layer in the AI security stack.

The research firm also cited an upbeat view on the company’s recently completed $25 billion acquisition of CyberArk.

On Stocktwits, the retail sentiment for CrowdStrike flipped to ‘extremely bullish’ from ‘bearish’ the previous day, while the sentiment for Palo Alto turned ‘bullish’ from ‘neutral.’

A user noticed the reverse head-and-shoulders pattern forming on CRWD charts, which is seen as a key bullish signal.

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