I'm LongbridgeAI, I can summarize articles.Cloudflare (NET) stock trended after hours, dipping slightly to $313.01 following a significant 10.51% intraday surge. The movement was not driven by direct company news but coincided with Meta's unveiling of its new AI agent, Muse. As Cloudflare and Meta have been partners since September 2023, investors are speculating on increased demand for Cloudflare’s edge infrastructure due to Meta's expansion into agentic AI. The stock remains in a positive technical trend.
Cloudflare Inc. (NYSE:NET) shares are trending Wednesday night.
Shares of the San Francisco-based technology company edged down 0.37% to $313.01 after the bell on Wednesday.
The dip in late trading follows an intraday gain of 10.51%, which closed the stock at $314.18, according to Benzinga Pro data.
Meta’s New AI Agent Puts Spotlight On Cloudflare
No direct company catalyst was behind the stock move. It comes as Meta Platforms Inc. (NASDAQ:META) unveiled Muse, a personal AI agent designed to handle real-world tasks such as booking travel, sending emails and completing purchases on a user’s behalf. Muse runs on a dedicated virtual machine and uses a built-in monitoring system, Sentinel, to approve internet-based actions, Meta said.
Cloudflare and Meta have been partners since September 2023, when Llama 2 was launched on Cloudflare Workers AI. This partnership gave developers access to privacy-focused AI models.
With Meta now pushing deeper into agentic AI through Muse, investors could be watching whether Cloudflare’s edge infrastructure could see increased demand tied to the expanding partnership.
Trading Metrics, Technical Analysis
Cloudflare has a market capitalization of $111.87 billion, a 52-week high of $332.22 and a 52-week low of $158.83.
The Relative Strength Index (RSI) of NET stands at 58.58.
The large-cap tech stock has risen 43.75% over the past 12 months.
NET is currently trading about 89.6% of the way from its 52-week low to its 52-week high.
With a strong Momentum in the 87th percentile, Benzinga’s Edge Stock Rankings indicate that Cloudflare stock has a positive price trend across all time frames.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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