10 AI News Investors Probably Missed

5. Cloudflare, Inc. (NYSE:NET)

Number of Hedge Fund Holders: 44

Cloudflare, Inc. (NYSE:NET) provides a wide range of cloud services including security solutions for various platforms like public and private clouds, IoT devices, and SaaS applications. It offers AI-powered tools like bot management, web optimization, and zero trust services to enhance security and performance.

On December 10, Cloudflare (NYSE:NET) CTO John Graham-Cumming revealed the company’s plans to diversify its chip suppliers to support the growing demand for AI applications across industries. In a conversation on Yahoo Finance’s Catalysts, he discussed the expanding AI landscape and increasing demand for Nvidia’s advanced chips.

He acknowledged Nvidia’s market leadership but noted that Cloudflare anticipates using multiple chip providers in the future to support various AI models within its network. This reflects a broader growth in AI applications across industries, raising concerns about whether chipmakers and operators can meet the rising demand.