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Cloudflare (NET) stock returned 87.6% in the nine months to October 7, 2026, significantly outpacing the S&P 500's 13.0% return over the same period.
The shares reached a fresh 52-week high of $370.35 on October 6, driven by a series of announcements linking the company to the rise of AI agents and accelerating revenue growth.
Management stated on the August 6 earnings call that automated software, rather than people, sent more than 50% of the traffic on Cloudflare's network in the second quarter of 2026.
This marked a first for the company and highlighted the increasing role of AI agents across its platform.
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