The acquisition could make the Silicon Valley giant a bigger force in cybersecurity, and arrives months after an earlier round of talks collapsed.

When Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik were riding a bus to their Israeli army base nearly a decade ago, they weren’t just swapping stories. They were shaping what would become one of the biggest exits in venture capital history.

Google’s $32B Wiz acquisition raises questions on strategy, AI competition, and cloud dominance as investors react skeptically to the record deal.