Palo Alto Networks Becomes First Company Valued at $1 Trillion on Tel Aviv Stock Exchange

Palo Alto Networks, the international cybersecurity firm, made history on Thursday by becoming the first company ever to surpass a market capitalization of one trillion shekels on the Tel Aviv Stock Exchange. The company's stock surged over 4% to reach this milestone. This valuation means Palo Alto Networks now accounts for one-third of the total market value of all stocks traded on the exchange. The gap between Palo Alto Networks and the next largest companies is substantial; it is valued approximately ten times higher than Teva Pharmaceuticals, which ranks second with a market cap of 143 billion shekels. Leumi Bank is in third place with a valuation of 110 billion shekels.

Palo Alto Networks, co-founded by Israeli tech entrepreneur Nir Zuk, became a dual-listed company on the Tel Aviv Stock Exchange in February 2026, alongside its Nasdaq listing. From its first day of trading, it held the highest market value on the exchange, surpassing established local giants like Teva, which had previously alternated with Elbit and the banks for the top spot on the TA-35 index. Year-to-date, Palo Alto Networks' value has increased by 115.6%, partly driven by its acquisition of Israeli firm CyberArk for $25 billion, the second-largest tech deal in Israel's history.

Founded in 2005, Palo Alto Networks is a leading global cybersecurity company known for consolidating various security solutions into a single platform, reducing the need for multiple vendor products. It entered the market in 2007 with its next-generation firewall, directly competing with Israeli firm Check Point. The company went public on Nasdaq in 2012 with a valuation of $2.8 billion. Although registered in California, its primary research and development center is located in Tel Aviv, and it has acquired over ten prominent Israeli startups throughout its history.

In separate market news, shares of El Al and Israir continued their upward trend on Thursday, following a nearly 10% jump the previous day attributed to a Flydubai flight incident in Israel. El Al's stock was up nearly 3.5%, and Israir's by 2.5% at the time of reporting.