Elastic NV

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Observability Platforms: Palo Alto’s Acquisition of Chronosphere Increases AI-Native Competition

Mark Giarelli

Nov 21, 2025

Datadog, Dynatrace, and Elastic are all trading down after Palo Alto Networks announced plans to acquire Chronosphere, an observability platform that targets artificial intelligence-focused companies, for 21 times annual recurring revenue.

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Elastic NV

Observability Platforms: Palo Alto’s Acquisition of Chronosphere Increases AI-Native Competition

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