Cloudflare forecasts annual sales above estimates as AI drives cloud demand
Cloudflare forecast annual and first-quarter sales above Wall Street estimates on Tuesday, betting on the rapid development of artificial intelligence technology to drive demand for its cloud services.
Shares of the firm jumped nearly 12% in extended trading.
The race to integrate AI across industries has resulted in an uptick in cloud demand, as businesses prioritize spending on the digital infrastructure necessary for developing the booming tech.
