🚀 Netskope surges 18% in Nasdaq debut

Market Overview
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Year To Date Performances:

1. Cybersecurity firm Netskope surged 18% in its Nasdaq debut Thursday, closing with an $8.6 billion market cap after pricing shares at $19 and raising more than $908 million. The IPO, which was over 20 times oversubscribed, reflects renewed investor appetite for tech listings following a long market drought and recent debuts from Klarna, StubHub, and Figma. Netskope, led by CEO and co-founder Sanjay Beri, specializes in securing enterprise data in the cloud and AI era, with annual recurring revenue topping $700 million despite ongoing losses of $170 million in the first half of 2025. Beri said the company aims for positive free cash flow this year and sees its strength in integrating with other players like Palo Alto Networks, CrowdStrike, and Cisco, rather than trying to dominate the entire cybersecurity stack.

2. FCC Chair Brendan Carr defended ABC’s suspension of Jimmy Kimmel Live! after the late-night host suggested Charlie Kirk’s killer was tied to the MAGA movement, saying Kimmel appeared to “mislead” the public about one of the nation’s most significant political assassinations. Carr warned that the FCC could still take action against ABC and Disney, citing their obligation to serve the public interest, while affiliates like Nexstar have already pulled the show. The move drew sharp backlash: House Democrats called for Carr’s resignation, accusing him of abusing power to appease the Trump administration, while Barack Obama warned that regulatory threats against media companies represent a dangerous escalation of government coercion. Trump, meanwhile, praised Kimmel’s suspension and urged other networks to cancel late-night shows he opposes.

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4. Notion has ridden the AI boom to more than $500 million in annualized revenue, fueled by surging enterprise adoption and the rollout of new AI-powered features, including customizable agents that can pull data from multiple sources. Over half its customers now pay for AI tools, helping corporate clients like Nvidia, Kaiser Permanente, and Volvo integrate Notion into team workflows. Despite not raising money since 2021, the company has over $330 million in cash reserves and more than 100 million users. But Notion faces an uphill battle as tech giants Microsoft and Google push rival AI-enabled productivity suites, testing whether the startup can maintain its momentum against much larger competitors.

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   1. CrowdStrike gained 13% after higher-than-expected investor guidance.

   2. Nvidia is investing $5B into one of its primary competitors, Intel.

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