Idan Nurik, a co-founder of cybersecurity company Paragon, is preparing to leave the firm in the coming weeks to pursue a new startup focused on AI infrastructure. The move became public on the same day Paragon, now part of REDLattice, announced plans to go public on Nasdaq through a merger with a special purpose acquisition company. Nurik remains at Paragon for now, and Ehud Schneerson is set to become the company's only active co-founder after his departure.
Planned Departure and SPAC Merger
The timing of Nurik's planned departure is closely tied to Paragon's broader corporate transition. Two years ago, Nurik, Schneerson, and former Prime Minister Ehud Barak sold Paragon to US defense technology investor AE for US$900 million. AE has since announced that Paragon and REDLattice will merge with the Nasdaq-listed SPAC Bold Eagle at a valuation of US$1.25 billion, with combined annual revenue of US$267 million.
Investor Interest and Valuation
Top venture capital funds have already signaled willingness to invest in the still unformed company at a valuation in the hundreds of millions of dollars. Investors introduced to the opportunity include Sequoia Capital partner Sean Maguire and former NBA player Omri Casspi's Swish Fund. Some US funds active in Israeli cybersecurity have even discussed follow-on participation at a projected future valuation of US$1.5 billion.
Official Statement
According to a statement provided on behalf of Nurik, no company has yet been formed and every step is coordinated with REDLattice and AE. The statement acknowledged significant interest from leading entities but said no official investment has been finalized. It added that details can be shared once the company is established and funding is secured, which is expected toward the end of the year.
Unit 8200 Leadership
Nurik is expected to be joined by a senior officer from Israel Defense Forces Unit 8200 who is currently on pre-discharge leave. Media reports identified the potential technology partner as Lieutenant Colonel D., a graduate of the Talpiot program who studied at Stanford University with IDF sponsorship. His involvement is not yet finalized, and Nurik is still recruiting additional partners for the new venture.
Elite Network Track Record
Lieutenant Colonel D. holds frozen shares in Netz-Gaia Capital, a venture fund that invested in Israeli cybersecurity companies including Decart. Investors view the possible involvement of Unit 8200 veterans as a strong signal, following Sequoia's earlier bets on companies such as Cyera, Wiz, and Decart. However, no response has been provided by Lieutenant Colonel D. or the IDF Spokesperson's Unit.
AI Infrastructure Spending Surge
The new venture enters a rapidly expanding market as technology companies accelerate AI infrastructure investment. TrendForce estimates the nine largest cloud service providers will spend a combined US$830 billion on capital expenditures in 2026, an increase of 79% from the previous year. S&P Global projects capital expenditures by six major technology companies will rise from about US$870 billion in 2026 to more than US$1.3 trillion in 2027.
Nvidia and Data Center Demand
Nvidia's results illustrate the demand, with data center revenue reaching US$89 billion in the latest quarter and total quarterly revenue hitting US$96.2 billion. PwC estimates global data center capital expenditure will reach roughly US$800 billion in 2026 and could rise to US$1.8 trillion by 2050. Its longer-term forecast puts cumulative global investment in AI infrastructure at US$31.6 trillion through 2050.
Idan Nurik's next venture remains in its early stages, but the combination of founder track record, elite intelligence network, and investor appetite has already generated substantial attention. The planned company sits at the intersection of cybersecurity and AI infrastructure, two areas attracting significant capital. Formal details are expected later in the year, while Paragon moves forward with its public market transition.
Source: en.globes.co.il