Okta ($OKTA) podcast mentions
Okay. Here's what's happening. We've been looking at companies that have high, high-priced earnings multiples and we've been shrinking them as the Fed raises rates. The multiple that people pay for earnings will go down. Right now it's 27 times earnings. In a rate cycle where the Fed is raising rates, that P/E multiple, which is why I wrote my whole book about P/E multiples, that has to come down. And that's why that stock is going lower. All right. Listen to me. Buyers will come back, but they won't come back to the same place. And remember, from now on, we're fighting the Fed. On Main Money Tonight, the cyber stocks are uniquely positioned in this market with all the talk of AI safety. They're not dancing to the Fed. I'm going to sit down with Palo Alto Networks to find out how the company is staying ahead of the game. Then Arm Holdings is at the center of what could be a multi-year chip shortage. I'm getting the latest from the company CEO. And Okta has finally broken free of the AI displacement fears and is really starting to get a beat on the bad agents. I've got the CEO. Stay with Kramer.
Jim Cramer · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 9/16/26 · 2026-09-16Coming up, is Okta positioned to lock down gains as we enter the Agentic era? Kramer's investigating with the CEO next.
Jim Cramer - 1 · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 9/16/26 · 2026-09-16Now that everybody's wringing their hands over the risks of AI, I'm going to drill down on the cybersecurity place that I think can help mitigate the risk. Take Okta, a major player in identity verification that reported a phenomenal quarter in late August. Stock's now up 140%, 144% over the past 6 months, in part because it's no longer being held back by AI displacement worries. Turns out artificial intelligence was never going to make Okta obsolete. If anything, their security software is more essential than ever. Now that you've got AI agents roaming around the internet.
Jim Cramer · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 9/16/26 · 2026-09-16So let's take a closer look at Todd McKinnon, old friend of the show, co-founder and CEO of Okta Learn More. Todd, welcome back to Mad Money.
Jim Cramer · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 9/16/26 · 2026-09-16Yeah, we think the key is visibility and control. So OpenAI and Hugging Face, everyone's heard about this problem that happened where an OpenAI model jumped containment and went after this company Hugging Face. Now, OpenAI said that their model was not connected to the internet. Right now, turns out that it was connected to the internet. So by bringing visibility and control with something like Okta, You actually know what your AI is connected to. So it's not going to be a magic fix for all this. But the foundation of the fix is visibility and control. And once you have that in place, then you can take the right actions. Then you can have a good risk assessment of what's actually happening.
Todd McKinnon · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 9/16/26 · 2026-09-16Todd McKinnon is the— he's the co-founder and CEO of Okta. That money's back. Thank you.
Jim Cramer · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 9/16/26 · 2026-09-16I'm not going to say if Microsoft, OpenAI, and Anthropic are worried, then they should slow down. They understand their own issues. And if we want some sort of combination of the National Highway Traffic Safety Administration, Atomic Energy Commission, and maybe a watchdog like the International Atomic Energy Commission, count me in. But otherwise, I stand with NVIDIA's Jensen Huang, who argues that these execs are responsible. They'll do the right thing to prevent the throng of unauthorized agents. I think they'll do it if only to protect themselves from mass tort litigation, lack of anything willingness to— who's going to insure them? What I'm not so sure of is what happens if a foreign enemy unleashes its own swarm of agents. For that, I have to rely on Palo Alto, Okta, CrowdStrike and others to be one step ahead of the enemy. Historically, it's been a safe bet. I like what I heard from these companies this week. Now, how about my first hat, the investing hat that worried about data center spending? I think the spending will proceed apace. Anthropic's just making so much money and OpenAI is not far behind. You give them $10 billion worth of gigawatts and they can make $30 billion. They're not going to slow down the important parts of their business.
Jim Cramer · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 9/16/26 · 2026-09-16Honestly, I doubt they'll slow down much at all because there's just too much money at stake for them to stop now. They will be prudent and they will welcome regulators, but they're going to keep building. And that's why I think after the Fed fallout debates, these companies that make components for the data centers, I think they're all buys. You can have some big companies slow down while others remain responsible and confident without slowing and are using the right cybersecurity tools. That's why these cybersecurity stocks make so much sense to me, from Okta to CrowdStrike to Palo Alto. It's why we own two of them, CrowdStrike and Palo Alto, for the club. I asked every exec out here if they, if they're getting ready for the death sentence in 2030, although I did it with a little more subtlety to Sarah Farrer because she works at OpenAI, where the commotion originated. I came away thinking we have some time to fix things, but let's understand each other. We have to fix them no matter what. I like to say there's always a bull market somewhere. I promise to try to find it just for you right here on Mad Money. I'm Jim Cramer. See you tomorrow.
Jim Cramer · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 9/16/26 · 2026-09-16Yeah, look, I feel that people think there's this giant gulf between what Jensen's saying and say what Sarah's saying. I think that there's, there's a little more alignment, so to speak, in the idea that, look, we have to be careful. We have to have guardrails. We do have cybersecurity. I had George Kurtz on yesterday from CrowdStrike. I have Toby Kinnan on Okta, which is identity. I, and I think that I have Nikesh Arora from Palo Alto. I'm trying to speak to every one of these. I feel better that we have it under control when it comes to the people who know what they're doing. I think that Jensen made a point that was very interesting where he's saying, look, the people who were opining on this, they're not— some of them are not researchers. They don't really know what they're doing. David, there is a belief that perhaps things aren't out of control. But then you have this, you know, you have the swarm of 1,200.
Jim Cramer · Squawk on the Street · Squawk on the Street 9/16/26 · 2026-09-16I think that's right. I think there's room for a lot of improvement. I have Keshav Roy today from Palo Alto and George Kirsch yesterday and Tom McKinnon from Okta, which is Identity. I think that what Kesh will talk about is maybe you can't stop a 1,200-horse stampede that went on, but he does have some fixes that would make it So you knew, you know, which part of your organization is vulnerable or which parts. I think we need to do that. And I think that cyber industry does have to work together. And I don't think anyone disagrees with that. I think that what they disagree with was the, let's say, the scare. It's the, it's the we're all going to die, David. That's what people just say. God, I wish that the— I wish that gentleman said, you know, there's so many vulnerabilities, we do have to slow down. But we're all going to die narrative was killed yesterday because I think people just say, you know what, we're going to solve this. We have it. We have the ability to have agencies. Nuclear power.
Jim Cramer · Squawk on the Street · Squawk on the Street 9/16/26 · 2026-09-16Yeah. Oh my God. We have Rene Haas. I think he could tell us about Intel. SK Hynix. Intel is starting to come in. Palo Alto and Okta. You know what I think the We're going to hear from the CFTC that he's got some solutions. I know that George Kurtz felt that all the things that were talked about can be dealt with. Made me feel better. But I'm with David in the sense that regulatory must happen. There has to be— don't know who's going to do it, but we have to have it. But it can be like the Atomic Energy Commission. And therefore, I think that everybody can win. And the Jensen is still the person I would trust more than anybody else. This whole thing.
Jim Cramer · Squawk on the Street · Squawk on the Street 9/16/26 · 2026-09-16Right. So yeah, that's a very good question. So, so that's coming back to the name Quantum API. So it's an API service. So, so our customers are large enterprises. US federal type markets, defense markets, where they integrate it into either existing platforms. So they integrate it with the software that runs the drones, for example, or they integrate it with the software that manages all the files, for example. So when you set it up, you might have, you know, you want to protect certain data sets. You can start by adding, you know, you might point our service to Ping or Okta, who are your identity credential multifactor providers for your organization. So now when that data is encrypted across your organization at, you know, individual levels, you don't actually— it's kind of transparent is the word to you. You just know, for example, in Google Docs, I'll give you an example. In Google Docs, we can do multi-level classification in Google Docs. So we already know who you are when you're logged into Google Docs in your enterprise, right? We know it's Craig. Now we might know that you have, you know, top secret clearance, right? But your pal Billy only has sensitive clearance. So when you're in our docs, you see individually encrypted different paragraphs. It will give you— it will automatically, when you go over it, decrypt that part that you can read. But Billy goes in, he can't see that part. He can see the next layer down, but he can't see the other one. So it's integrated as part of the processes as an API service. And that's the secret sauce. It's not the individual running around trying to manage the keys. It's enterprise-grade.
Trent Telford · Eye On A.I. · The Reason 30 Years of Cybersecurity Has Failed - and What Actually Fixes It | Trent Telford, Qanap · 2026-09-10Yeah, David, IGV now up like what, 1% I think on the year, roughly a little bit less than that. So it's positive. We did see a lot of interesting predictive flows that were down near the lows. Actually, one of the more interesting things that we reported on early in the summer was that you were seeing some call buying in the software group. It's been pretty quiet, I have to say. In fact, I've actually been shocked at how quiet some of the options trading has been with names like CrowdStrike on deck. We saw Okta on security. The HAC ETF has no options traded on it, which is shocking to me despite a huge run on the year. I think the catch is you got to really drill down into cybersecurity. Because that's where the winners are.
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