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NSA’s Internet spying will cost US tech vendors $47 billion

The National Security Agency’s spying scandal will lead to a $47 billion hit in revenue over the next three years for US-based cloud and outsourcing providers, but that sum is lower than the previous expectation of $180 billion, according to a Forrester Research analysis.

In 2013, the NSA’s Prism program, a massive Internet spying operation, was outed by one-time NSA contractor Edward Snowden. As reports continually surfaced about the agency’s programs, large tech vendors began to see revenue hit. Officially, the NSA wasn’t blamed for the financial losses, but multiple US tech giants noted thatbusiness tanked in China and other key markets.

For more information, check out this article on CNET.com