capital · May 16, 2026
Palo Alto Networks Makes $700M-Class AI Bet on Portkey Gateway
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Palo Alto Networks announced a planned acquisition of Portkey valued in the $700M class. The deal embeds Portkey's AI gateway technology into Palo Alto Networks' security platform for autonomous AI agents. Portkey handled over 500 billion tokens daily and managed ₹4.75 crore in daily AI spend by early 2026. The acquisition values Portkey at roughly ₹1,140 to ₹1,330 crore, double its valuation from two months earlier. Palo Alto Networks completed the announcement on April 30, 2026.
Spend governor blocked model creation: provider_circuit_open (lane=dev, provider=together)