Jay Chaudhry

So there are two aspects.

There may be AI models sitting in India or France or Germany, but our sovereign security cloud will make sure they can access the model whether it's sovereign or non-sovereign.

So overall, it's a positive thing for us.

It's our architecture that allows us to build sovereign security clouds.

Not directly on providers like Zscaler.

Look, hyperscalers, the cloud providers have been building applications and people said, oh, can they take over security market?

We haven't seen any of that.

It is true that AI model builders will provide some of the applications such as perhaps testing and red teaming.

But when it comes to being the zero-trust exchange, that makes sure that agents created by Microsoft, OpenAI, Anthropic, or whoever can securely access the right application.

They look for someone like Zscaler.

We become the Switzerland that connects right party to right party just like we built such a strong business for securing users in spite of all these other vendors out there.

The more models they create, the more applications they create, the more agents that they built, the more opportunities Zscaler has.

We are getting business from enterprises because enterprises need to secure access to applications no matter where they are.

So applications become destination for us.

We are the switchboard providing zero trust access to the market we pioneered.

And we are way ahead of anyone else.

The rest of the market is doing firewalls and VPNs.

And we are probably the only real credible choice for enterprises.

And that's what has given us business.

Over 45% of Fortune 500 companies depend upon us today.