This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
After a historic global outage that disrupted the finance, media, transport, logistics, and other industries worldwide, Microsoft CEO Satya NAdella shared a few details about the accident. According to him, the mishap occurred after Microsoft's partner Crowdstrike rolled out a software update that rendered computers worldwide inoperable. He added that Microsoft is working with Crowdstrike to resolve the disruption, and according to Tesla CEO Elon Musk, the event also shook up the automobile supply chain. True to form, Musk has spent most of the time since the outage on his social media platform X, and most of his posts have focused on the outage.
The outage, which is still ongoing, is one of the largest of its kind in history, as systems from the U.S. to Europe and Australia were all affected by it. These range from banking services to rail networks, automotive supply chains, airlines, media and other services that rely on Crowdstrike and Microsoft for their operations. Crowdstrike is primarily a cloud based enterprise security services provider, and since Microsoft's Azure cloud computing and licensed Windows platforms depend on it, the outage led to a worldwide suspension of a large number of computers linked with these platforms.
In his first set of remarks after the outage, Nadella confirmed in a brief post on X that Crowdstrike's software update was responsible for the global disruption. He outlined that Crowdstrike "released an update that began impacting IT systems globally," adding that his firm was working with Crowdstrike and other industry actors to "provide customers technical guidance and support to safely bring their systems back online."
Read more on wccftech.com