Okta CEO Says AI Is Expanding Total Addressable Market -- Market Talk

Dow Jones02:23

1323 ET - Okta Chief Executive Todd McKinnon tells CNBC that AI is expanding its total addressable market. The company is addressing demand from customers that need a way to keep track of the influx of AI agents they're using, McKinnon says. He is confident that Okta can keep the upper hand despite more software companies competing in Okta's market. "We're in a good position because we've spent 17 years figuring out what people can connect to," he says. "We can take that expertise and apply it to this new world." He notes that 30% of the company's bookings in the latest quarter were for its new products, which includes AI tools. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

March 05, 2026 13:23 ET (18:23 GMT)

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He is confident that Okta can keep the upper hand despite more software companies competing in Okta's market. \"We're in a good position because we've spent 17 years figuring out what people can connect to,\" he says. \"We can take that expertise and apply it to this new world.\" He notes that 30% of the company's bookings in the latest quarter were for its new products, which includes AI tools. 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