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A major system failure at internet infrastructure giant Cloudflare Inc. (NYSE:NET) on Tuesday morning rippled across global web services, triggering a worldwide outage and sending shares of tech companies lower.
The disruption began around 6:40 a.m. EST, disabling platforms used by millions of users. Cloudflare said the issue was resolved by 9:42 a.m.
Services affected included X, OpenAI's ChatGPT, Anthropic's Claude, Meta Platforms Inc. (NASDAQ:META)'s Facebook, Amazon.com Inc. (NASDAQ:AMZN)'s AWS, Canva and others, according to data from Onedetector.
Cloudflare is one of the world's largest content delivery networks, an unseen backbone that helps keep large portions of the internet running quickly and securely.
When a provider of this scale fails, the effect is immediate. Many companies depend on its infrastructure for security filtering, traffic routing, and core service uptime.
Shares of Cloudflare fell nearly 5% at the open before paring losses as services came back online.
But the selloff extended beyond one stock. The tech-heavy Nasdaq 100 – as tracked by the Invesco QQQ Trust (NASDAQ:QQQ) – was down 1.2% minutes after the open, extending the decline after Monday’s 0.9% drop.
AI-linked stocks underperformed, with the Global X Artificial Intelligence & Technology ETF (NYSE:AIQ) and the iShares Semiconductor ETF (NYSE:SOXX) down 1.6% and 2.2%, respectively.
Benzinga Pro data showed several large-cap tech names trading sharply lower by 9:48 a.m. EST.
| Name | Change % |
|---|---|
| SanDisk Corp. (NASDAQ:SNDK) | -7.11% |
| Advanced Micro Devices Inc. (NASDAQ:AMD) | -3.55% |
| Western Digital Corp. (NASDAQ:WDC) | -3.32% |
| Nebius Group Ltd. (NASDAQ:NBY) | -3.01% |
| Micron Technology Inc. (NASDAQ:MU) | -2.66% |
| Fabrinet (NYSE:FN) | -2.59% |
| CoreWeave Inc. (NASDAQ:CRWV) | -2.59% |
| Figma Inc. (NYSE:FIGM) | -2.55% |
| ARM Holdings plc (NASDAQ:ARM) | -2.50% |
| Marvell Technology Inc. (NASDAQ:MRVL) | -2.44% |
| Entegris Inc. (NASDAQ:ENTG) | -2.30% |
| Credo Technology Group Holding Ltd. (NASDAQ:CRDO) | -2.12% |
| Nvidia Corp. (NASDAQ:NVDA) | -2.10% |
| Unity Software Inc. (NYSE:U) | -2.04% |
"Today's Cloudflare outage shows how vulnerable the digital economy has become," said Fadl Mantash, chief information security officer at Tribe Payments, in an emailed comment to Benzinga.
He said that when a major upstream provider goes down, the impact "cascades across industries, touching everything from social media platforms to e-commerce checkouts and backend payment services."
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Posted In: AIQ ALAB AMD AMZN APP ARM CLS CRDO CRWV ENTG FIG FIGM FN FSLR META MRVL MSFT MU NBIS NBY
