If the deal goes through, it would mark the largest acquisition in Alphabet's history.

Wiz, founded in 2020 by Israelis Assaf Rappaport, Yinon Costica, Roy Reznik, and Ami Luttwak, has quickly made a name for itself in the cybersecurity industry. With headquarters in New York City, the start-up also has offices in the United States and Israel.

The report acknowledged that the potential acquisition holds significance for Alphabet as it faces intense antitrust scrutiny along with other leading tech giants. Acquiring Wiz would elevate Alphabet's position in cloud computing, an area where it is said to have lagged behind its competitors in recent years.

The valuation of Wiz has soared since its inception, with the company raising a substantial $1 billion earlier this year at a valuation of $12 billion. The Wall Street Journal also revealed notable venture capitalist firms supporting Wiz, including Sequoia Capital, Andreessen Horowitz, Index Ventures, and Lightspeed Venture Partners.

Should the negotiations remain on track, the deal between Alphabet and Wiz could materialize in the near future, fueling Alphabet's aspirations to strengthen its cloud computing offerings. This move would undoubtedly shape the landscape of the cybersecurity industry.

As both Alphabet and Wiz prepare for this potential landmark deal, all eyes will be on the outcome and the implications it will bring, not only for these two entities but for the wider tech and cybersecurity sectors.