One in four Fortune 500 companies experienced outages during computer outages around the world last Friday caused by a botched CrowdStrike software update, with cyber insurer Parametrix estimating total losses at $5.4 billion, Axios reports.
Image source: Glenn Carstens-Peters / unsplash.com
Each company affected by the CrowdStrike outage lost an average of $43.6 million, according to Parametrix statistics – the problem affected all Fortune 500 airlines, as well as approximately 75% of leading banks and healthcare organizations. Total insured losses across all Fortune 500 companies ranged from $540 million to $1.08 billion; The healthcare sector suffered the largest cumulative loss, amounting to approximately $1.9 billion, while airlines lost approximately $860 million.
At the end of 2023, CrowdStrike accounted for only 15% of the market in the cybersecurity software segment, but in the Fortune 500 list this share is significantly higher – 298 companies, the developer himself said. One of the least affected industries was the software and IT services sector: only 21% of companies experienced outages, since most of them run Linux, and systems of this family were not affected by the incident. And this is a positive thing, Parametrix noted, since disruptions in the technology sector would create an even greater ripple effect – the sector includes the largest service providers in the world.
US sanctions against China are aimed at curbing the technological development of the latter country,…
Two independent research groups have reported an advance in the development of lithium-sulfur batteries that…
Until now, it was believed that large suppliers of semiconductor products such as Qualcomm and…
Microsoft has lifted restrictions on updating Windows 11 to version 24H2 for computers running Assassin's…
Microsoft is testing a new artificial intelligence (AI)-powered search feature in the latest build for…
Perplexity AI proposed on Saturday, a day before TikTok was blocked in the United States,…