Cybersecurity's AI Arms Race: Doppel Leads Charge Against 300% Surge in Social Engineering Attacks

Doppel, a cybersecurity firm specializing in AI-driven threat detection, has secured $70 million in Series C funding at a valuation exceeding $600 million. The round, led by undisclosed investors, underscores growing concern over AI-powered social engineering attacks, which have surged by 300% in the past year, according to industry reports. The funding will accelerate the development of Doppel's AI platform, designed to identify and neutralize sophisticated phishing and deepfake-based attacks that exploit generative AI tools.

The company's technology leverages machine learning to analyze communication patterns, flagging anomalies such as voice modulation in phone calls or AI-generated text in emails. Doppel's solutions are already deployed by major financial institutions and Fortune 500 companies, which face an average of 12,000 cyberattacks monthly. The firm plans to expand its offerings to include real-time threat response capabilities and partnerships with cloud service providers to integrate its tools into enterprise workflows.

In contrast, VeriSign, Inc. (VRSN) has taken a defensive approach, announcing a $1.11 billion stock buyback program while maintaining a 1.2% dividend yield. The move follows insider sales totaling $12.99 million over 90 days, with executives reducing holdings by up to 8.04%. Despite these actions, VeriSign's market cap remains stable, supported by its role in internet infrastructure and domain name registry services.

The semiconductor sector also saw mixed signals. Taiwan Semiconductor Manufacturing Company (TSM) raised its quarterly dividend to $0.9678 per share, reflecting confidence in its 26.97% payout ratio. However, institutional investors like Westwood Holdings Group Inc. reduced holdings in TSM, signaling caution amid global supply chain uncertainties.

C3.ai Inc. (AI), a developer of AI-driven enterprise software, faced turbulence as its chairman, Thomas Siebel sold $8.3 million worth of shares through a prearranged trading plan. Siebel also filed to sell an additional 724,318 shares via a Form 144 filing, raising questions about the company's growth trajectory amid a 20% year-over-year revenue decline.

The contrasting fortunes of these firms highlight the dual-edged nature of AI adoption. While Doppel and Citigroup are investing in AI to enhance security and efficiency, companies like C3.ai and VeriSign are grappling with the risks of over-reliance on unproven technologies. As Doppel CEO Alex Johnson noted, "The arms race against AI-powered threats is only beginning. The next frontier is ensuring that the tools we build to protect organizations don't become vulnerabilities themselves." According to industry reports.