OpenAI reportedly in early talks to acquire Trail of Bits
The ChatGPT maker is said to be weighing a purchase of the security firm, which audits software and counts crypto projects among its clients. The deal's size has not been disclosed.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
OpenAI, which is building a larger cybersecurity business, is reportedly in early talks to buy Trail of Bits, a startup that finds and fixes vulnerabilities in open-source software. The potential deal's size is unknown. The news pushed down shares of cybersecurity companies, with Palo Alto Networks falling about 4 percent in early trading.
Why it matters
The reported talks signal OpenAI's push into cybersecurity and have unsettled rival security stocks. Trail of Bits already partners with OpenAI on the Patch the Planet initiative.
Timeline
- Oct 13, 6:07 PM ET: Reports said OpenAI was in early talks to buy Trail of Bits, citing people familiar with the matter.
- Oct 14, 10:36 AM ET: Palo Alto Networks stock fell 4 percent to $381.88, while CrowdStrike dropped 3 percent and Fortinet slipped.
Coverage
- OpenAI Weighs Deal for One-Time Security Partner Trail of Bits (PYMNTS)
- OpenAI eyes security firm purchase amid office bugging scandal (protos.com)
- Palo Alto Falls 4% as Report of OpenAI Cybersecurity Deal Hits Sector; CrowdStrike Drops 3%, Fortinet Slips (247wallst.com)
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