vested
Cloudflare, Inc. (NYSE:NET)
Number of Hedge Fund Investors: 40
Cloudflare, Inc. (NYSE:NET) saw a 41.9% year-over-year increase in revenue during the fourth quarter of 2022.
Cloudflare, Inc. (NYSE:NET)’s adjusted EPS in the period came in at $0.06, beating estimates by $0.01.
Cloudflare, Inc. (NYSE:NET) is seeing a huge demand for its services from small and large companies. It was recently reported that Cloudflare, Inc. (NYSE:NET)’s services are used by ChatGPT. Cloudflare, Inc. (NYSE:NET) management, without naming OpenAI, said during a latest earnings call:
A leading generative AI company signed a one-year $1 million deal. The company had been a user of our free tier since 2017. And this deal originally started out as a relatively small gateway DNS opportunity to replace Cisco Umbrella. However, when their browser-based application debuted in late November, demand for the company’s AI-generated content absolutely exploded with unprecedented rates of adoption.
Their Azure Front Door had quickly proved insufficient at handling the massive load on their services from legitimate users as well as keeping fraudulent users from exhausting their resources.
They started off with CVM, DDoS, bot management, gateway DNS and more. We are actively exploring various paths for expansion to support their incredible growth as well as emerging use cases of their AI models and applications with Cloudflare Worker, API Shield, imagery sizing and more.
As of the end of the fourth quarter of 2022, 40 hedge funds had stakes in Cloudflare, Inc. (NYSE:NET). The biggest stakeholder of Cloudflare, Inc. (NYSE:NET) was Paul Marshall and Ian Wace’s Marshall Wace LLP which owns an $120 million stake in the company.
Source: Insider Monkey