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How will CrowdStrike's stock price change by August 31, 2024, due to the IT outage?
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Story
CrowdStrike Update Causes Global IT Outage on Friday, Disrupts 8.5M Devices
Jul 20, 2024, 08:24 PM
A faulty software update from Austin-based cybersecurity firm CrowdStrike caused a massive global IT outage on Friday, July 19, affecting approximately 8.5 million Microsoft Windows devices, which is about 1% of all Windows machines. The update led to widespread disruptions across various sectors, including airlines, banks, hospitals, and media outlets. The outage resulted in grounded flights, disrupted healthcare services, and halted banking operations. CrowdStrike's CEO issued an apology and detailed a fix for the issue, stating that a solution is close. Experts indicated that the update likely skipped adequate quality checks before deployment. While many businesses appear to have recovered, the issue has not yet been fully resolved. The incident has highlighted the fragility of interconnected global IT systems and has prompted calls for major infrastructure changes in cybersecurity and cloud computing.
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