American billionaire and CEO of Tesla, Elon Musk, announced the removal of CrowdStrike's cybersecurity software from all of his company's systems.
Musk's announcement came after a widespread global technical failure caused by a faulty update to one of CrowdStrike's programs, which resulted in a malfunction in computer systems.
“We just removed CrowdStrike from all our systems,” Musk said in a comment on a post on the social networking site X.
He previously said the outage "has disrupted the automotive supply chain," but did not give an estimate of the losses he incurred.
“Unfortunately, many suppliers and logistics companies use this service,” he said in a later post.
Following Musk's comments, shares of the cybersecurity company, which had already fallen on the global news, fell further, falling 11% to $305.39 as of 12:49 p.m. in New York.
A global technology outage has grounded flights, shut down banks and shut down media outlets in a massive disruption that has affected businesses and services around the world.
Cybersecurity firm CrowdStrike said the issue believed to be behind the outage was not a security incident or cyberattack.
She confirmed that the problem occurred when she deployed a faulty update for computers running Microsoft Windows.
Earlier this week, the cybersecurity firm announced an update to its Falcon product, saying it would provide “unprecedented speed and accuracy” in detecting security breaches.
CrowdStrike Holdings, Inc. is an American cybersecurity technology company based in Austin, Texas, that helps businesses manage their security in “IT environments,” which includes everything accessed via an Internet connection.
Its primary mission is to protect businesses and prevent data breaches, ransomware attacks, and other cyber attacks.