Cloudflare Raises Long-Term Growth Target to 50% on Agentic AI Bet

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Cloudflare now sees agentic artificial intelligence as a growth opportunity that will dwarf its previous drivers, and has raised its long-term "North Star" growth target to 50% from 40%. Chief Financial Officer Thomas Seifert, speaking at an investor event, said the company's network architecture is positioned to support low-latency, secure and distributed AI inference workloads, and that Cloudflare expects to exit the year with momentum toward that objective. Demand is showing up through the Workers developer platform, where the company added 2 million developers quarter over quarter, and through variable consumption revenue, with companies including Lovable, Figma, Anthropic and OpenAI building on Workers; Cloudflare estimates that about 80% of significant AI enterprise infrastructure customers use its services. Seifert said Cloudflare is focused on inference rather than training the largest models, and that capital expenditures could rise but any increase would be expected to coincide with higher revenue. The company is also building monetization infrastructure for the agentic economy, including "pay per crawl," a Monetization Gateway, Cloudflare Wallets and identity tools, working with partners including Visa, Mastercard, American Express, PayPal and Coinbase, though Seifert acknowledged that significant technical work remains and that Cloudflare cannot yet process transactions at the millions-per-second scale it believes may be necessary.

Impact on stocks 7

Digital Finance & Tokenization▲ · 5 stocks
Cloud & Digital Infrastructure▲ · 2 stocks
Cloudflare Inc
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▲ PositiveCapitalDemandrelevance

Cloudflare raised its long-term North Star growth target to 50% from 40% at its investor event.

Theme Impact 6

Off-coverage companies 3

AnthropicPrivate± Mixed
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LovablePrivate± Mixed
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OpenAIPrivate± Mixed
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