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Cloudflare, the world’s most connected cloud network, reported strong fiscal Q2 2023 earnings and raised its guidance for Q3 and full-year 2023. Cloudflare is also the most commonly used cloud provider for AI start-ups.

Cloudflare offers a serverless cloud architecture, security, and AI capabilities on the network edge. It is a content-delivery network (CDN) that serves and partners with major companies, including Alphabet Inc., Meta Platforms Inc., Apple Inc., Netflix Inc., TikTok, and Spotify Technology S.A.

Edge computing is a concept that involves bringing computing power and data closer to the sources of data. Cloudflare’s cloud platform can host AI data at the network edge, making it well-suited for AI applications and services.

AI Cloud on the Edge

Cloudflare integrates AI and machine learning into its security infrastructure, attracting AI companies to use its services. The company provides AI training models, security, and network edge capabilities, positioning itself to benefit from the growing shift towards AI edge networks.

AI Edge Partnerships

Cloudflare has recently announced partnerships and collaborations with companies like Nvidia, Microsoft, Databricks, and Hugging Face. These partnerships enable Cloudflare to offer hyper-local AI inference, run AI models anywhere, and bring MLflow capabilities to its developer platform.

Firing on All Cylinders

In its most recent quarter, Cloudflare beat analyst estimates for earnings and revenue. The company’s CEO highlighted Cloudflare’s position as the most commonly used cloud provider among leading AI startups and expressed enthusiasm for the company’s future in the AI industry.

Weekly Ascending Triangle

Analyzing Cloudflare’s stock chart, there seems to be an ascending triangle pattern, indicating a bullish trend. The stock has shown higher lows over time, and there are potential support levels to watch.

While Cloudflare currently has a “Hold” rating among analysts, there are other stocks that top analysts recommend as better buys. If you’re interested in generating investment income, there is also a report available with ten stocks that offer a safe and reliable source of income.

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