Why SentinelOne Stocks Gained This Week

In short, this summer has been a volatile time for the cybersecurity industry. News of a widespread outage stemming from a software update by a major player affected other stocks in the sector. However, one of them SentinelOne (NYSE: S) recently experienced a bit of a run. Data compiled by S&P Global Market Intelligence shows the company’s share price is up nearly 11 percent year-to-date as of Friday morning.

One piece of news that livened up sentiment on SentinelOne was Monday’s revelation that it had reached a deal with a major PC and laptop maker. This one and based in Hong Kong Lenovo Group have signed a multi-year collaboration agreement for SentinelOne to provide AI-enhanced endpoint security solutions for Lenovo PCs. Specifically, the deal will involve the cybersecurity specialist providing the Singularity platform accompanied by AI Purple.

Lenovo is the world’s largest traditional PC manufacturer as measured by shipments. According to data collected by technology sector research firm IDC, Lenovo shipped around 59 million units in 2023, more than 6 million ahead of its nearest rival.

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