Surveillance

NSA Snooping Could Cost Tech Companies Billions

$35 billion in lost contracts from hesitant customers over next three years

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U.S. cloud providers have already lost business over the NSA leaks, but now the Information Technology and Innovation Foundation (ITIF) has a report putting a dollar amount on the short-term costs: $21.5 to $35 billion over the next three years.

ITIF based these estimates in part on the Cloud Security Alliance survey showing that 10 percent of officials at non-U.S. companies cancelled contracts with U.S. providers and 56 percent of non-U.S. respondents are hesitant to work with U.S. cloud based operators after the leaks.