# Who does Palo Alto Networks pay? Who are its key suppliers?
Canonical: https://valuechain.wiki/palo-alto-networks · Facet: suppliers · Updated: 2026-09-04T23:10:43.626223+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Palo Alto Networks's confirmed suppliers/cost counterparties include Flex Ltd., 아마존 (AWS, 클라우드 인프라) plus 1 undisclosed/aggregate relationship. Per the valuechain.wiki graph: 3 cost edges, backed by 1 dated sources, 1 of them primary filings (as of 2026-09-04).

### R&D·엔지니어링 인재 (연구개발비) (high)
- note: R&D for platform and AI security was $1,984.1M in FY2025 (21.5% of revenue). 16,068 employees; talent is a core cost axis.
- [confirms] SEC EDGAR (EN, filing, published 2025-08-29) https://www.sec.gov/Archives/edgar/data/1327567/000132756725000027/panw-20250731.htm: "Research and development expense was $1,984.1 million in fiscal 2025 (21.5% of revenue). We had 16,068 employees as of July 31, 2025."

### 사이버아크 (CyberArk, 인수 합의) (high)
- note: On July 30, 2025 agreed to acquire CyberArk for about $25 billion in cash and stock, expanding into privileged access and identity security.
- [confirms] Benzinga Korea (KO, news, published 2025-11-20) https://kr.benzinga.com/news/usa/earnings/%ED%8C%94%EB%A1%9C%EC%95%8C%ED%86%A0-%EB%84%A4%ED%8A%B8%EC%9B%8D%EC%8A%A4-1%EB%B6%84%EA%B8%B0-%EC%8B%A4%EC%A0%81-%ED%98%B8%EC%A1%B0-%EB%B0%8F-ai-%EA%B4%80%EB%A0%A8-%EC%9D%B8%EC%88%98-%EB%B0%9C/: "Palo Alto agreed to acquire CyberArk in a cash-and-stock deal worth about $25 billion."
- [confirms] SEC EDGAR (EN, filing, published 2025-08-29) https://www.sec.gov/Archives/edgar/data/1327567/000132756725000027/panw-20250731.htm: "In July 2025, we also entered into a definitive agreement to acquire CyberArk Software Ltd."

### 플렉스 (high)  → /flex-ltd.md
- note: Hardware next-generation firewalls are assembled by EMS partner Flex (Flextronics), which procures components and builds products to Palo Alto's design and quality standards.
- [confirms] SEC EDGAR (EN, filing, published 2025-08-29) https://www.sec.gov/Archives/edgar/data/1327567/000132756725000027/panw-20250731.htm: "Our EMS provider is Flextronics International, Ltd. (Flex), who assembles our products using design specifications, quality assurance programs, and standards that we establish, and procures components and assembles our products based on our demand forecasts."

### 아마존 (AWS, 클라우드 인프라) (mid)  → /amazon.md
- note: Delivers cloud-based security (Cloud NGFW) and SaaS on public cloud. Cloud NGFW runs as a managed offering securing customer applications on AWS and Azure.
- [confirms] SEC EDGAR (EN, filing, published 2025-08-29) https://www.sec.gov/Archives/edgar/data/1327567/000132756725000027/panw-20250731.htm: "We also offer Cloud NGFW, a managed NGFW offering, to secure customers' applications on Amazon Web Services (AWS) and Microsoft Azure."

Reverse side: https://valuechain.wiki/palo-alto-networks/customers.md · Ripple: https://valuechain.wiki/palo-alto-networks/ripple.md

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Full node: https://valuechain.wiki/palo-alto-networks.md · JSON: https://valuechain.wiki/palo-alto-networks.json