Cyera eyes $12B valuation at 80x ARR multiple despite operating losses

Cyera's imminent $300M funding signals sustained investor conviction in AI-driven cybersecurity despite operating losses. The 80x ARR multiple—defying typical valuation metrics—indicates premium pricing for AI-native companies expected to dominate enterprise security budgets. For 2026, this suggests the AI economy will sustain aggressive capital deployment into vertical-specific AI applications, prioritizing market share capture over near-term profitability.