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CrowdStrike chaos could prompt rethink among investors, customers

Economic Times · 1y

Cybersecurity company CrowdStrike experienced a major outage and botched software update which caused disruptions worldwide. The incident resulted in an 11% stock decline and raised concerns about the company's reliance. While analysts predict potential rivals like Palo Alto Networks and SentinelOne to benefit, they don't foresee significant market share losses for CrowdStrike. This incident emphasizes the complexity and vulnerability of global computing systems. Security officials expressed dissatisfaction but did not disclose plans to stop working with CrowdStrike. The company claimed it was not a security incident or cyberattack and has since deployed a fix.