Cloudflare Shares Rise Over 10% After Optimistic Outlook for AI Growth
Cloudflare (NET) saw its stock price rise by over 10.5% following an upbeat outlook shared at the Goldman Sachs Communacopia + Technology Conference in September 2026. CFO Thomas Seifert highlighted a strategic shift from traditional SaaS to becoming an agentic AI platform, citing significant growth opportunities in areas like inference and content protection. The company raised its long-term revenue growth target to 50% annually from the current 40%, with Q2 revenues already up by 36% year-on-year. However, Cloudflare reported a widened net loss of $169.98 million for the quarter due to increased operating costs. Cloudflare also announced an early access partnership with OpenAI on Vulnerability Discovery and Remediation services aimed at improving security against AI-driven attacks.
Tickers: $NET
Topics: AI platform transition Cloudflare OpenAI partnership revenue growth