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Cloudflare, a leader in content delivery networks, is leveraging AI to enhance its services. The company reported a 28% revenue increase in Q3, driven by its expansion into cloud-based AI services. With a growing customer base and a focus on AI-specific hardware, Cloudflare is well-positioned for future growth.
Despite a cautious spending environment among customers, Cloudflare's dollar-based net retention rate remains strong at 110%. The company anticipates significant growth in its total addressable market, projected to reach $222 billion by 2027. Investments in AI technologies, including partnerships with Nvidia for GPU deployment, are expected to accelerate Cloudflare's growth trajectory.
• Cloudflare's revenue rose 28% year over year, driven by AI services.
• The company anticipates its total addressable market to grow significantly by 2027.
Cloudflare is expanding into cloud-based AI services to enhance its offerings.
Cloudflare is investing in GPUs to power its AI offerings and improve performance.
Cloudflare operates a leading CDN and is integrating AI to enhance service delivery.
Nvidia provides GPUs that power Cloudflare's AI models, facilitating advanced computing capabilities.
The Motley Fool on MSN.com 17month
The Motley Fool on MSN.com 18month
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