Cloudflare (NET) Soars 11.9% on Nvidia AI Infrastructure Catalyst, Extending Rebound

Cloudflare (NYSE:NET) shares surged 11.9% to $270.66 on June 2, 2026, hitting a fresh 52-week high after Nvidia’s Computex keynote confirmed that the agentic AI era will arrive in fall 2026 with RTX Spark PC devices and Vera Rubin data center chips now in full production. The announcement validated Cloudflare’s positioning as an execution layer for AI traffic, accelerating a recovery from the post-earnings selloff on May 7. The Q1 2026 results, reported May 7, showed revenue of $639.8 million, up 34% year-over-year and ahead of the $628 million consensus, while adjusted EPS of $0.25 beat estimates of $0.23. Cloudflare’s May 19 partnership with Anthropic to launch “Cloudflare Environments for Claude Managed Agents” provides secure sandboxes for autonomous agents on its network. CEO Matthew Prince said AI is “the biggest tailwind we’ve ever seen in Cloudflare’s history,” as agentic requests on the network are growing exponentially.