Okta pops 20% after topping estimates as AI threat spikes demand for identity security

Okta, a company that makes identity management software (tools for controlling who can access systems and data), reported stronger-than-expected financial results and saw its stock rise 20% because demand for AI security is increasing. The company is benefiting from the growth of agentic AI (AI systems that can act independently to complete tasks) and released new tools to help businesses manage and secure these AI agents, closing dozens of AI-related deals in the process.