Cloudflare Is Reportedly Working With Elon Musk's SpaceX: The Details
Portfolio Pulse from Adam Eckert
Cloudflare Inc (NYSE:NET) is reportedly working with SpaceX to improve the performance of its Starlink satellite internet service. The collaboration aims to increase Starlink's points of presence and boost data center performance, which could result in faster network speeds and improved bandwidth. The news boosted Cloudflare's shares by 5.55%.
August 23, 2023 | 8:40 pm
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POSITIVE IMPACT
Cloudflare's partnership with SpaceX to improve Starlink's performance has positively impacted its stock price.
The news of Cloudflare's collaboration with SpaceX to enhance the performance of Starlink's satellite internet service has been positively received by the market, leading to a 5.55% increase in Cloudflare's stock price. This indicates that investors view this partnership as a positive development for Cloudflare, potentially leading to increased revenues and growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100