Google, Microsoft plan to spend billions on cybersecurity after meeting with Biden

CNBC

Lauren Feiner

Key Points

– The White House hosted a cybersecurity summit Wednesday with CEOs in sectors ranging from tech to insurance.

– The meeting follows a wave of cyberattacks that have brought added urgency to security issues.

– Big Tech companies including Google and Microsoft committed to spending billions on cybersecurity following the meeting.

Business leaders in sectors ranging from tech to insurance committed billions of dollars to beefing up cybersecurity efforts at a White House meeting with President Joe Biden on Wednesday.

The meeting comes in the wake of several high-profile cyberattacks, including on government software contractor SolarWinds and oil pipeline Colonial Pipeline, that have brought added urgency to such security issues.

The commitments range from working toward new industry...

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