Cloudflare beat earnings, cut 1,100 jobs because AI agents do the work now, and lost a quarter of its stock price in a day

Cloudflare beat Wall Street’s revenue and earnings estimates on Wednesday, announced it would cut 1,100 employees because artificial intelligence agents now do their work, and watched its stock fall 24 per cent on Thursday. The sequence is becoming the template for the technology industry in 2026: record revenue, record layoffs, record doubt about what […]

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Cloudflare beat earnings, cut 1,100 jobs because AI agents do the work now, and lost a quarter of its stock price in a day

Cloudflare beat earnings, cut 1,100 jobs because AI agents do the work now, and lost a quarter of its stock price in a day

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