Palo Alto Networks buys AI IT-automation startup Console for $500M

Palo Alto Networks acquired Console, a Thrive-backed startup building AI-driven IT service automation, for roughly $500 million, according to sources. The deal leaves Sequoia-backed Serval as the leading independent startup in the AI IT service automation space.

Why it matters: Cybersecurity vendors are moving quickly to fold AI agent automation into their core platforms, signaling that 'AI IT ops' is consolidating into larger incumbents rather than staying a standalone startup category. The price tag also sets a public reference point for valuing early-stage AI agent infrastructure companies.