Microsoft (MSFT) announced on Wednesday that it will invest $20 billion over the next 5 years in cybersecurity, four times its previous investments of $1 billion per year to protect its services.
The tech giant operates some of the world’s most used software, making it a prime target for cyberattacks. After all, cybercriminals and nation states want to hit the largest number of victims possible when they launch their attacks.
In addition to its $20 billion investment, Microsoft announced that it will offer $150 million in technical services to federal, state, and local governments to upgrade their security capabilities. The company says it will also expand its partnerships with community colleges and non-profits for cybersecurity training programs.
The U.S. is facing a shortage of cybersecurity workers. According to CyberSeek, a partnership between the National Institute of Standards and Technology; the Computing Technology Industry Association; and Burning Glass Technologies, there are more than 464,000 cybersecurity job openings in the U.S.
Microsoft’s announcement follows a Wednesday meeting of some of the tech industry’s most prominent CEOs and the Biden administration, during which the group discussed possible public-private partnerships to help address ongoing cybersecurity threats to the country’s critical infrastructure and private industries.