Cloudflare reported first-quarter earnings that beat expectations, with revenue of $640 million and earnings per share of 25 cents. Despite this, shares fell 18% after the company announced it will cut over 1,100 jobs, about 20% of its workforce, citing a major shift to agentic artificial intelligence that has changed its operational needs. CEO Matthew Prince highlighted AI as a key growth driver but noted many roles are no longer needed. The company expects second-quarter revenue around $664-$665 million and full-year 2026 revenue slightly above $2.8 billion, with earnings per share forecasts beating estimates.
Jim Cramer expressed skepticism about the current impact of AI investments, noting that while AI infrastructure companies benefit, many corporate users have yet to show significant cost savings or revenue gains. He highlighted that banks, expected to...
A simple tap on a smartphone triggers a complex AI-driven process that spans from touch sensors to cloud computing, cybersecurity, automated warehouses, and last-mile delivery technologies. Key companies like Nvidia, Qualcomm, and Ambarella provide t...
