United States President Joe Biden and chief executives of the country's biggest tech companies gathered at the White House on Wednesday to discuss cybersecurity and efforts to boost the sector.
"I have invited you all here today because you have the power, the capacity and responsibility to raise the bar on cybersecurity," Geek Wire quoted Biden as saying in his opening statement.
Microsoft plans to quadruple its cybersecurity budget to $20 billion over a five-year period, according to a report out of the White House Big Tech meeting.
Microsoft operates some of the world's most popular operating systems, making the tech group a prime target for cyberattacks.
On top of the $20 billion spending plan, the company said it will provide $150 million in technical services to federal, and local governments to upgrade their security capabilities.
The Big Tech meeting comes around three months after the Biden administration issued an executive order in May 2021.
The directive focused on strengthening the country's cyberattack response efforts and threat intelligence sharing and capability.
The executive order requires U.S. agencies to use a two-factor authentication for logins, which can add a layer of security against cyber-intrusions.
The White House meeting also comes following multiple high-profile hacking incidents, including on government software company SolarWinds and oil pipeline Colonial Pipeline, that have brought additional urgency to such security matters.
The U.S. is facing a shortage of cybersecurity personnel. According to CyberSeek, there are nearly 500,000 cybersecurity job openings in the country.
Microsoft said it will also widen its partnerships with community educational institutions, colleges and non-profit groups for cybersecurity training programs.
The Redmond, Washington-based Microsoft has shelled out $1 billion a year on cybersecurity since 2015.
Security technology is a growing business for Microsoft, raking in more than $10 billion in annual revenue, past company statements disclosed.
According to Microsoft Chief Executive Officer Satya Nadella, the meeting brought together "the right set of folks to have a good discussion."
Nadella, Apple CEO Tim Cook, Amazon CEO Andy Jassy, and JPMorgan Chase CEO Jamie Dimon are some of the tech executives who participated in the meeting.
