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The Guardian - US
The Guardian - US
Technology
Nick Robins-Early

CrowdStrike global outage to cost US Fortune 500 companies $5.4bn

CrowdStrike United States
Firms in banking and healthcare, as well as major airlines, are expected to be hit the hardest by the massive IT failure.
The huge IT failure grounded thousands of flights, caused turmoil at hospitals and crashed payment systems around the world. Photograph: Roberto Schmidt/Getty Images

The global technology outage sparked by CrowdStrike’s faulty update will cost US Fortune 500 companies $5.4bn, insurers estimated, as the cybersecurity firm vowed to make changes to prevent it from happening again.

The projected financial losses exclude Microsoft, the tech giant whose systems suffered widespread failures in the crash.

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