Topic: GPU/CPU fleet mix, AI inference workloads, and Anthropic managed agents impact
Key points:
Cloudflare abstracts underlying silicon, matching workloads to CPUs or GPUs as optimal; servers now pool CPU, GPU, memory, storage, and network resources.
One large AI studio went from zero to over 1 million Dynamic Workers in the last 15 days.
Agents generate significantly more traffic than humans (e.g., 5,000 sites vs. 5), driving Act 1 revenue; Act 2 focuses on narrowly defining agent data access.
Mgmt stance: Bullish — sees AI labs as partners, Dynamic Workers as more efficient than containers, and agentic traffic as a positive driver for revenue and enterprise wins.
Q6 (follow-up) — Gabriela Borges
Topic: Pool-of-funds renewal trends and expansion
Key points:
Cloudflare is in its sixth quarter of pool-of-funds; it is now a standard go-to-market tool.
Last quarter had the highest-ever renewal rate, including all pool-of-funds deals up for renewal.
Mgmt stance: Bullish — hypothesis that pool-of-funds enables sticky customer engagement and expansion has proven true.
Q6 (follow-up) — Shaul Eyal
Topic: Quota-carrying sales capacity growth and partner channel mix
Key points:
Quota-carrying AE sales capacity is not being touched; support ratios for AEs are changing significantly, freeing dollars to deploy more capacity.
Partners increased to 30% of revenue this quarter; driven by Mark Anderson’s two-year-old partner motion, especially for Act 2 products requiring consultative selling.
Mgmt stance: Bullish — expects partner channel to continue growing, with partners embracing new ways of selling and leveraging agentic AI for additional value.