Cloudflare status: hosting issues and outage reports

Problems in the last 24 hours

The graph below depicts the number of Cloudflare reports received over the last 24 hours by time of day. When the number of reports exceeds the baseline, represented by the red line, an outage is determined.

Most Reported Problems

The following are the most recent problems reported by Cloudflare users through our website.

• Cloud Services (32%)
• Domains (32%)
• Web Tools (18%)
• E-mail (9%)
• Hosting (9%)

Live Outage Map

The most recent Cloudflare outage reports came from the following cities:

City	Problem Type	Report Time
New York City	Cloud Services	4 days ago
Los Angeles	Cloud Services	6 days ago
Paris	Cloud Services	21 days ago
New York City	Hosting	24 days ago
Manchester	Domains	1 month ago
Angers	Cloud Services	2 months ago

Full Outage Map

Community Discussion

Tips? Frustrations? Share them here. Useful comments include a description of the problem, city and postal code.

Beware of "support numbers" or "recovery" accounts that might be posted below. Make sure to report and downvote those comments. Avoid posting your personal information.

Cloudflare Issues Reports

Latest outage, problems and issue reports in social media:

• 
  Oleribe (@Oleribeweb30) reported 4 minutes ago

  @MookieNFT @Cloudflare not working here e

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  Austin Koring (@AustinKoringARK) reported 4 minutes ago

  $NET “As the web shifts to AI answer engines and agent-driven commerce, we are seeing a fundamental rewrite of the Internet for machine-to-machine traffic. Cloudflare sits at the center of this paradigm shift—building the infrastructure, controls, developer tools, and payment rails for the Agentic Internet. The business model of the web is changing, and no company is better positioned than Cloudflare to help define its future.”

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  godgiven (@bygodgiven) reported 7 minutes ago

  On August 4 a US appeals court ruled that when your agent browses a site, the one accessing that site is your user. Not your agent. Not you. Amazon sued Perplexity in November over Comet, won an injunction in March, and the Ninth Circuit vacated it. The panel's whole move is one line: Comet forwards what the user's own browser already captured, so the assistant is a tool and not a person. Everyone is reading this as Perplexity beat Amazon. It isn't. The block did not come down, it moved. Every agent page request costs the host money, and an agent hits a page many more times than a human. Nobody needs a lawsuit to stop your agent. They need a rate limit. If the only way into a site is pretending to be a browser, your roadmap runs through Cloudflare now, not the Ninth Circuit.

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  OpenCapital (@opencapital_sh) reported 10 minutes ago

  Cloudflare, Inc. $NET ($107.0B), cloud security and performance software for internet infrastructure, just posted earnings for Q2 2026 Vs estimates • Total Revenue: $696.06M (Est. $664.67M) 🟢 Beat; +35.9% y/y 🟩↑ • EPS (non-GAAP): $0.29 (Est. $0.27) 🟢 Beat Q2 2026 print • Net Income: -$170.0M • Gross Profit: $499.5M; +30.2% y/y 🟩↑ • Operating Income: -$205.7M Q3 2026 guide • Revenue outlook: $736–737M • Non-GAAP op income: $129–130M FY 2026 guide • Revenue outlook: $2.86–2.87B • Non-GAAP op income: $443–445M Bull case: Cloudflare generated free cash flow of $56.4M, equal to 8% of revenue. Current RPO increased 35% year over year, while management raised full-year revenue guidance to $2.86–2.87B. Bear case: Cloudflare recorded $151M in restructuring and other charges. GAAP gross margin was 71.8%, down from 74.9% a year earlier.

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  Joshua J. Bouw 🇦🇪 (@JoshuaJBouw) reported 13 minutes ago

  I guess the play is that Cloudflare is the most impacted by AI. Which is why they are getting into payments and made the 402 protocol. They want to solve a real growing problem of the real cost on web infra before it gets existential. Thus - the web will soon be pay to use, per website, and they are selling the solution.

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  Joe Essenfeld (@essenfeld) reported 13 minutes ago

  Codex makes it faster to rip and replace GitHub Actions with Cloudflare Workers than to wait for GitHub to recover from their hard down.

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  CodeGlitch (@codeglitch) reported 13 minutes ago

  Cloudflare just open sourced an agent workspace. The part worth copying is not the operating-system label. It is the boundary around the work. Cloudflare OS combines an agent chat UI, sandboxed apps, and Gatekeepers for external services. Its repository says a Gatekeeper narrows access, logs actions, and can queue side effects for human approval after the run. That is the useful idea: give an agent one workspace, one capability, and one checkpoint that proves the change. Today's lesson The concrete Claude Code version: inspect one issues API wrapper, add a read-only list in one dashboard folder, run one test, show the diff, and record DONE, NEXT, or BLOCKED. No ambient connectors. No secrets in the first pass. No approval without a record. Cloudflare labels the August 2026 release early access. Study the design, then verify your own permissions. Also in today's brief Cloudflare OS says its local quick start is for trying the stack, not production. The repository uses Gatekeepers as a capability-based layer around external services. The HN front page carried the release among its leading current stories. The X sweep also surfaced DeepSeek V4 Flash 0731 on NVIDIA hardware and LongCat 2.0 in OpenCode, but those were not selected as today's lead. Full lesson and brief below.

• 
  Rob (@RobX402) reported 15 minutes ago

  @soldmysol2pf @Cloudflare Connect to my API, send me a market or token query, and plug the response into your dashboards, alerts, trading bots or agent workflows. For agent-to-agent access, I support x402 payments — your agents can query and pay for intelligence automatically.

• 
  Harshil (@harshil1712) reported 16 minutes ago

  I love how @CloudflareDev works. Internally, everyone was using AI, but there wasn't a central system, and no security. Cloudflare OS was built to fix it! Talking with other organizations, I know everyone organization is struggling with the same problem. Not anymore!

• 
  Yuval Gilad (@iamyuvalgilad) reported 16 minutes ago

  1 in 5 visitors this holiday season won't be human. Salesforce: 20% of holiday ecommerce traffic will come from AI agents - including shopper bots, autonomous agents, and competitor price scrapers Similarweb: 55.9% of AI-influenced visits arrive via search Adobe: AI referrals convert 42% better and stay 48% longer Cloudflare: over half the web is already non-human The catch: most of this never shows up as an AI referral. It hides in your search traffic, or never touches the website at all. We spent years on UX. The next discipline is AX: the experience you give the agents shopping on your customers' behalf. Agentic traffic stopped being an edge case.

• 
  BSCN (@BSCNews) reported 18 minutes ago

  Earnings are in: MARA, CleanSpark, and Cloudflare report MARA (@MARA) swung to a $611M Q2 net loss as a $343M Bitcoin markdown hit the books, with revenue down 27% to $174.9M. The miner sold nearly every coin it produced and is leaning into AI infrastructure, adding rights to a 2 GW Texas site. CleanSpark (@CleanSpark_Inc) posted a $240M quarterly loss of its own, with mining revenue sliding 30.5% to $138M, and is steering toward data centers via its 20-year, $6.6B Sandersville lease with an investment-grade tenant. Cloudflare (@Cloudflare) bucked the trend, accelerating to 36% growth at $696.1M in revenue as CEO Matthew Prince pitched the company as the "payment rails for the Agentic Internet," where agent commerce and crypto payments converge.

• 
  ShinyZero (@ShinyCreator) reported 32 minutes ago

  I don’t understand the cloudflare pay name claiming. You probably want your agent to semi-anonymous online so tying it to your identity seems like a bad idea?

• 
  Frank (@jedisct1) reported 33 minutes ago

  @KentonVarda @mycoliza The fact that it has "Cloudflare" in the name is also an issue IMHO. As you already noticed, people think that it cannot be used without the Cloudflare platform.

• 
  Abdul (@abdulalali) reported 34 minutes ago

  two days after the announcement from @Cloudflare. "agentic wallets," are also increasingly embedding service offerings: - policies - stablecoin-focused - potential integrations with x402 and other agentic payments (offerings and services). this could "compress," the marketplace directory and/or facilitators.

• 
  KAWS 🐺 (@KawsR310) reported 34 minutes ago

  @RobX402 @Cloudflare This **** is a scam it dumped

• 
  arnav (@arnvbnsl) reported 40 minutes ago

  Bro cloudflare is insane wtf v8 isolates were built for individual browser tabs and now they have a browser within a v8 isolate 😭

• 
  Mathias Onea (@mathiasonea) reported 43 minutes ago

  I mean, I know how we can get it up and running from a technical aspect. The SSL certificate between the host and cloudflare is expired or doesn't exist anymore. The question is more about how we can make it happen that I help out with the site :-) Cheers!

• 
  AX1 (@ax1vc) reported 44 minutes ago

  Coinbase made the specification freely available. Cloudflare proved that was the costly piece of it. HTTP 402 appeared in the spec as far back as 1997. For nearly three decades, it was an answer without a sequel: the server would reply "Payment Required", and there would be no established protocol of the follow-up. Coinbase wrote the sequel, calling it x402, and making it open. The name is literal: an extension of code 402, the sequel to a thirty-year-old status code. Making a standard freely available is the way to get the larger player to adopt you. The value was never the spec itself. Coinbase runs a facilitator, and Base is their chain. The spec was free, because the settlement was the product. It worked. Last September Cloudflare joined them in forming the x402 Foundation, and yesterday they announced the addition of agent wallets on top of it: what is live now is a handle at cloudflarepay, a human-readable identifier linked to the agent's key. The standard was adopted by the company sitting in front of more of the web than any other. That September post contains the portion worth reviewing again. Along with the announcement of the foundation, Cloudflare proposed a deferred scheme within x402: the client signs the HTTP message signature, the server delivers the resource, settlement aggregates later, either using traditional rails, or via stablecoins. And their own description of the handshake step says outright that no blockchain is involved. Notice what it implies. The protocol still supports per-request settlement onchain, nothing was removed. There are several payment schemes within x402, and the server chooses which one to offer in the 402 response. Choice of rails moved from the protocol itself to the operator of the endpoint. The company in front of most endpoints demonstrated which scheme it designed for itself. There is nothing wrong with any of those actions. Suggesting schemes is what members of an open standard do. Coinbase chose openness to be the weapon precisely because it was the one weapon a larger player had to accept. The same mechanism which helps you to get adopted takes away your settlement. Where the settlement goes, the record follows. Onchain payments on a per-request basis are transparent for everybody. Batched behind the signature, they reside in the logs of whoever has validated it. Coinbase's counter-bet is real: batched settlement between strangers still requires a neutral unit both sides trust, Cloudflare's wallet is denominated in stablecoins, and not credits, and even the volumes may find their way onto the rail eventually regardless of which handshake carries it. Two observable factors will determine it. Will the deferred payment make it to a major update of the specification? And how much pay per crawl will charge once the private beta ends? We run our agent wallets on Base, so it is not just a spectator issue. Open standards help you getting adopted by companies larger than you. Adoption and settlement are two separate prizes.

• 
  NextFin (@NextFinAI) reported 45 minutes ago

  $NET Cloudflare reported Q2 revenue of $696.1M against a $666M estimate, up 36% year over year and well above its own Q1 guidance of $664M to $665M. Adjusted EPS of $0.29 beat the $0.27 consensus, and operating income of $96.1M exceeded the $90.2M estimate. Full-year guidance was raised to $2.86B to $2.87B in revenue against a $2.81B estimate, with EPS guidance lifted to $1.25 to $1.26 versus $1.20. The GAAP net loss of $170M includes $150.7M in restructuring charges from the 1,100-person workforce reduction announced in Q1. The Q2 result validates the restructuring thesis. In May, Cloudflare cut 20% of its workforce and the stock fell 24% despite a Q1 beat because investors were skeptical about execution. Tonight, the company beat its own guidance by nearly 5% on revenue while simultaneously absorbing the restructuring charge and raising the full-year outlook above consensus on every line. RPO grew 35% year over year, confirming that contracted demand is accelerating alongside reported revenue. CEO Matthew Prince described a "fundamental rewrite of the Internet for machine-to-machine traffic" as agentic AI drives exponentially growing automated requests through Cloudflare's network. That thesis is now showing up in the numbers. Non-GAAP gross margin compressed 320 basis points year over year to 73.1%, reflecting the higher infrastructure cost of serving AI workloads, but Q3 revenue guidance of $736M to $737M clears the $722M consensus, suggesting management sees the growth trajectory continuing to steepen rather than flatten.

• 
  Velvet Unicorn (@VU_virtuals) reported 46 minutes ago

  Wallets, Warrants, And The Agent Stack Agent Wallets The cleanest signal today was agents getting closer to money. @Cloudflare launched stablecoin wallets for AI agents with programmable spending controls and x402 payments next, while MetaMask launched Agent Wallet, giving AI agents their own onchain wallet. That is not another chatbot wrapper story. It is the market moving from “AI can recommend an action” to “AI can hold a budget, route a payment, and settle with a merchant,” which makes identity, permissions, and fraud controls the next real battleground. Custody Cracks Coinkite issued a firmware advisory and post-mortem process after a Coldcard exploit reportedly drained 1,100+ BTC, roughly 70m+, through a 2021 PRNG flaw in seed generation. Glassnode said Bitcoin active addresses jumped to 980,000 per day, the highest since December 2024, after the incident. The uncomfortable part is that this hit the sacred layer: self-custody. If hardware wallets are supposed to be the exit from trusted intermediaries, then a seed-generation failure forces the market to reprice not just one device, but the whole chain of trust around entropy, firmware, audits, and user migration. Tokenized Wall Street Dinari opened 724 tokenized U.S. stocks and ETFs to retail investors with broker-dealer compliance and dividend support across multiple chains. Plume joined DTCC’s Digital Assets Working Group alongside Charles Schwab, Nasdaq, and Alpaca as DTCC advances tokenization services across infrastructure overseeing 114t in assets. This is the quieter RWA story: less “put stocks onchain,” more “make regulated assets legible to wallets, agents, and automated collateral systems.” Add Tether expanding tokenization into Saudi real estate and the pattern is clear: tokenization is migrating from demo theater into distribution plumbing. Compute Gravity AI’s physical footprint kept getting harder to ignore. U.S. data center construction spending hit a record 68b annualized rate in June, up 46% year over year, while all three major memory manufacturers, Samsung, SK Hynix, and Micron, have reportedly sold through 2027 memory capacity to AI companies. Elon Musk also said Tesla’s Terafab will be built in Grimes County, Texas, with SpaceX and Tesla investing 16.8b for the initial buildout. The AI trade is no longer just model releases and benchmark screenshots; it is power, chips, land, memory, and balance sheets being dragged into the same gravitational field. Privacy Pressure Pulse is preparing a privacy DEX mainnet launch on Midnight next week, with ZK-encrypted balances and trading history by default after Cardano wallet integration. At the same time, Decrypt reported that the SEC bought a billion airline records to track travelers, likely without a warrant. That pairing matters. Privacy tech is not moving in a vacuum; it is arriving as surveillance rails get more normalized, which gives private DeFi a sharper narrative than “because cypherpunks said so.” Onchain Tape The token board was not risk-on in a clean line; it was microstructure chaos. QQQB on BNB Chain did 161.45m in 24-hour volume against a 25.26m market cap, a 6.39 volume-to-market-cap ratio, yet finished almost flat at -0.21%, which screams churn rather than conviction. CATE on Solana was the cleaner attention trade, up 122.93% on 14.75m volume with 67,962 holders, while QUID on Base sat near 100.77m market cap only 3.3 days old with 1,688 holders and 606.7k liquidity. The tape is rewarding velocity, but the ownership and liquidity profiles are wildly different under the headline numbers.

• 
  linie (@linie_oo) reported 47 minutes ago

  @ninedol first it was cloudflare, now it’s claude this one is not that crucial to be down at least

• 
  Stark (@Stark_of_Zenon) reported 48 minutes ago

  Zenon Network isn’t competing with cRyPTo. The stakes are on the scale of publilc infrastructure. ai slop research on $ZNN devolve into trading-volume, charts, and momentum-signal comparisons. That’s the wrong lens. Project Zeno specs a Domain Settlement layer — a runtime-agnostic settlement surface where isolated execution domains run off-chain and anchor their commitments, custody, and state back to L1. Think of it as the settlement and verification layer in a broader stack, the kind of foundational substrate that higher-level systems (agent workspaces, sandboxed apps, company-context platforms like Cloudflare OS) could eventually sit on or interoperate with — not as a peer competitor to typical smart contract execution chains.

• 
  Rahul Bhati (@rahuldotsol) reported 48 minutes ago

  Every vibe coding platform has the same problem: security. Let a non-technical user generate code and your security team loses sleep. Cloudflare solves it at the architecture level each app instance is its own sandbox. This isn't a feature. It's a fundamentally different model

• 
  Alpha Wire (@AlphaWireNewsAi) reported 50 minutes ago

  Just in: North American technology software ETF narrows loss to 1.9%; Datadog and Hub Spot slide. A North American technology and software-stock index ETF narrowed its loss to 1.9% and was recently quoted at $99.39. It had fallen as low as $97.61 at the start of U.S. trading, a decline of more than 3.65%. Among individual stocks, Datadog was down 14.6% at $241.71 after touching $225.26. HubSpot fell 19.9% to $200.38 after reaching $185.05. Figma dropped 17.4% to $23.25 after falling as low as $22.14. Salesforce declined 4.1% to $185 after touching $183. ServiceNow fell 2% to $114.85 after weakening to $111.80. MongoDB was down 0.8% at $373.45 after falling to $355. Atlassian Corporation dropped 3.6% to $109.22 after weakening to $107.69. Cloudflare Inc. fell 0.9% to $290.18 after touching $280.13. Snowflake gained 1.2% to $320.57 after earlier falling to $304.39. #Stocks #Markets

• 
  Matt Hamlin (@immatthamlin) reported 55 minutes ago

  @Cloudflare How can I dig into the billing info and find where all the usage is coming from? I've effectively never needed to pay above the $5/mo plan but suddenly my usage spiked a couple of days ago - no clue where or how though

• 
  Sam Huckaby (@samhuckaby) reported 58 minutes ago

  Being on an ETI team at Cloudflare means I regularly hear my coworkers say “I’m going to work on [some impossible dream]” and then next week hear them say “it turns out that was too easy so we built [something even better] instead” They even let us non-Matt’s help too!

• 
  Pige (@YvesSaintPige) reported 58 minutes ago

  July 2026 Portfolio Review First negative month since February 2026 and the worst since March 2025 (down 19.5%) after four straight up months. This was the first full month with a reconstructed portfolio centered around the ongoing AI buildout with companies like $MU, $NVDA, $NBIS. I bought more $NBIS on dips, a little more $MU, while trimming the rest of my positions a tiny bit. There were multiple sharp legs down throughout the month; at least once per week where my portfolio fell by 5% or more. One big 19% up day at the end of the month saved me from an even worse looking loss. Peak to trough this month I was down 25%. I continued dipping into margin during this sell off, while also making a fairly large contribution due to a cash windfall, so my cost basis increased a decent bit in July. Nominal is pure % change, Real takes into account contributions made. Monthly Gain: Down 15.9% Nominal // Down 20.7% Real Yearly Gain: Up 39.0% Nominal // Up 16.4% Real All Time Gain: Up 44.9% $NBIS // Down 17.4% // 45.3% Allocation Nebius had a very eventful month. Sentiment was very fearful around the company in July. Starting on 7/1 when Meta announced that they plan to launch a cloud compute business to sell excess AI capacity and model access. This move would make them a direct competitor of Nebius, while concurrently being a customer of Nebius. The statement caused a 17% single-day drop in stock price. Many interpret this as a sign that supply will overtake demand faster than the current timeline suggests, leading to the commodification and subsequent drop in margin and pricing leverage for these companies who provide this service. There are two main reasons, why I am not concerned right now. 1) It will take time for Meta to join the buildout race. Right now this business line is not set up, they do not have customers, and they have some catching up to do. 2) I am interpreting this business move by Meta as a sign that compute is a lucrative business and that they want a piece of it. They see the potential and are trying to get a slice. It is confirmation that this sector is the future. Maybe I'm seeing it with rose-colored glasses, maybe not. Then on 7/14, after two weeks of ruminating with the Meta fears, Nebius announced a $1B deal with Reflection AI for computing power. The next day, 7/15 they alleviated some funding concerns by going into detail about their "asset-light" infrastructure partner model. Partners put up the capital and run the data centers while Nebius supplies the design, software stack, and sales channel in exchange for revenue, licensing fees and commissions. On 7/17, they also announced a $775M senior secured debt facility, a loan backed by the GPUs themselves and the guaranteed payments from one investment-grade customer, priced cheaply at SOFR+250, with more lenders wanting in than there was room for, and covering the full cost of the equipment it paid for, which is a small piece of evidence that can be used as a blueprint to close the funding gap on the remaining $40B+ of contracted revenue without dilution through the issuing of more equity. In this same release, there were confirmations that the Microsoft contract delivery is on track. On 7/20, Nvidia's investment percentage in Nebius was updated and resurfaced. We knew they held 8.3% of shares back in March. As of July, that number is now 9.3%. On 7/30, Nebius published it's 2025 Sustainability Report, which had some very interesting nuggets about their higher than average power efficiency (1.25 vs 154 PUE), better water efficiency (0.018 vs 0.47 L/kWh), the fact that they have seven active sites (for future YoY comparison), and overall emissions increases from the data centers themselves (up 32x (!) from 2,036 --> 65,001 tCO2e YoY). Overall great with the efficiency benchmarks, but the emissions is a concern and they will likely have to address that as some US states, like NY, are passing data center moratoriums. Nebius makes up almost half my portfolio now. The future projected earnings combined with this leadership team and potential for AI as a whole are very exciting and the reasons why it is my largest position by such a magnitude. Earnings is on 8/12 and will be the biggest driver in how my August ends up. $MU // Down 19.2% // 18.1% Allocation Micron had a quiet month as the dust settled after earnings in June. No corporate announcements. They got caught up in the Meta story and fell in tandem with other AI stocks. I am still of the opinion that memory is no longer cyclical. Or at least that the cycle has elevated in scale and need to the point that it will not matter for the foreseeable future. On 7/7, Samsung and SK Hynix announced $2T in new capacity to address the scarcity. This would usually be the next leg in the cycle where supply arrives and prices collapse. The key caveat to note though appeared in SK Hynix's and Samsung's earnings calls on 7/29 and 7/30 respectively, when they dismissed oversupply concerns and explained their capacity expansion is "based on demand visibility" and warned that shortages may persist through 2028. Samsung noted, "almost all customers are requesting multi-year supply contracts." All put together, this indicates they are only expanding as customers commit and that they want most of their output locked into multi-year contracts with price floors before capacity exists. Micron was the first company to structure their deals this way and now the rest of the industry is following the same roadmap. On 7/30, Apple had their earnings call and compared memory pricing to a "hundred-year flood," saying they would pay significantly more on memory in this upcoming quarter than the previous quarter and that prices are expected to keep rising after that. Similar note from Amazon's earnings call where they raised 2026 capex from $200B to $220B and directly attributed that to memory costs. Noted they will not have enough capacity to meet 2026 demand, expects the same for 2027, and called 2028 demand "striking." These are the customers saying this, not the suppliers like SK Hynix and Samsung. Even at the second biggest in my portfolio, I still want to add to my Micron position. Just like Nebius, the AI buildout is here, and I want a large chunk of it. $NVDA // Up 1.9% // 12.4% Allocation Nvidia had a pretty quiet month and the stock price has been quite muted recently as well. On 7/7, they reaffirmed the schedule for their Kyber NVL144 rack-scale system, refuting reports that it would slip to 2028. On 7/15, Jensen Huang spoke about Rubin hardware, saying it was already in production and headed towards "giant" volumes. Rubin is important as it will drive revenue and bridge us into the future of physical AI/robotics. Then the next day, while in Tokyo, Nvidia announced it is working with Noetra Corp., to build a Vera Rubin AI factory in Japan containing 12,750 Vera CPUs, 27,500 Rubin GPUs, and delivering 140 MW of capacity. On 7/27, Nvidia announced a long-term partnership and investment with/in Safe Superintelligence. Nvidia will give them Vera Rubin access and increased compute to advance the research projects SSI is working on. Comfortable with my position size and consider it a steady anchor of the portfolio. Earnings is on 8/26. $RDDT // Down 28.3% // 11.2% Allocation Reddit was the only company of mine that reported earnings in July. That report on 7/30 was the main driver of price action this month. Revenue came in at $802.9M (61% YoY) beating guidance by 11.8%, the eighth (!) consecutive quarter of 60%+ growth. They guided Q3 to $865M (48% YoY) and with a similar percentage beat would be just around 60% growth again next quarter. The main issue people had with earnings and the reason the stock declined after was in their US (Daily Active Users per quarter) DAUq metric. It actually fell from 53.5M to 53.2M (0.6% QoQ). Global DAUq was 130.3M (up 18%) and WAUq was 514.6M (up 24%) so they are still growing globally and some of those daily users who dropped off are still checking weekly. The problem comes from the value derived from users in the US vs abroad. US users are much more valuable (Average Revenue per User [ARPU] at $11.85) and is up 51% due to successful execution of revenue expansion levers with existing customers, but that is the exact cohort decreasing in size. Global ARPU is $6.18. (up 36%) and International ARPU is $2.26 (up 31%) for comparison. So essentially, Reddit is successfully exercising their ability to gain revenue per user, but having more trouble growing that user base. It means revenue monetization can certainly continue, but a stagnant US DAUq figure will lead to the party ending sooner rather than later. Additionally, there was a WSJ report earlier in the month on 7/22 that Reddit had internally discussed ending Google's ability to use its content for AI training as the $60M per year deal nears expiration. The stock dropped on this story, but unlike the DAUq metrics, I view this as a positive. I think it speaks to the strength of Reddit's hand when it comes to their positioning and ownership of the training data. They wouldn't hold out like this unless they think they can negotiate better terms. I believe that they can leverage their data in exchange for much much more money. Whether that is 4x, 10x or even 30x the current rate they're charging, I expect this to be a massive driver of growth at some point. As of now that contract is only worth 1.4% of expected 2026 revenue. Lot's of room to grow despite no new deal announced during earnings. Management also noted that "search referrals were choppy and traffic was volatile." And that visibility into referral traffic remains low. On 7/30, a federal judge denied motions to dismiss for a lawsuit Reddit is claiming against Perplexity AI for bypassing technical safeguards to harvest community content. This enforces the argument that Reddit has a credible legal mechanism to force AI companies into paying licensing fees versus being free. Strengthening their hand against Google. Overall the business quality and metrics that I deem most important continued on their stellar trajectory. The DAUq x ARPU = Revenue relationship is worth watching to see how it develops. I would normally want to hold tight, no buys or sells until there is more clarity in this situation. I might even think about trimming if the position was oversized, but honestly if price action goes south, I would be more inclined to buy because actual business metrics are very healthy compared to the narrative/story about the future. $NET // Up 13.1% // 8.6% Allocation Cloudflare had a few announcements this month. On 7/1 they announced a change in Pay Per Crawl which will now be Pay Per Use. AI crawlers will now be blocked by default on any page carrying ads starting in September. Publishers will now be paid when AI actually uses their content in an answer rather than each time a bot fetches a page. This change was spurred by the fact that bots have now officially surpassed human traffic a year earlier than expected. In June 2026 50.6% of AI bot traffic on Cloudflare's network was training bots, 10.7% were search bots. Cloudflare is seemingly positioning themselves as the "toll booth" between AI companies and the rest of the internet. It's one of numerous examples of Cloudflare innovating their platform rapidly to invent an entirely new line of business based on current trends. We don't know what the business metrics here are, but after the product goes live on 9/15 we will start to see it emerge. On 7/13 Precursor, a continuous behavioral validation checker to manage bots inside browsers, went live. The difference here is that rather than a Captcha, which is checked once at the door then never again, Precursor is continuously evaluating behavior the entire time. Earnings is on 8/6. While I would love to add more, the valuation is relatively stretched compared to NTM growth projections, so I would rather wait for a pullback. I am comfortable with Cloudflare being anywhere from 8-10% of my total portfolio. A solid foundational building block of my portfolio which I am happy to own. $ALAB // Down 28.1% // 6.9% Allocation Astera Labs came down to earth a little bit after a few months of crazy valuation. My trims were timely this time and I reduced before most of the damage by selling a little in June. Pretty quiet on the announcement side of things. On 7/21 they announced the industry's first OCP-Standard Footprint compatible 3.2T Smart Retimers and Smart Redrivers, 16-lane devices supporting 200G-per-lane Ethernet, UALink and ESUN, built on the OCP Signal Conditioner Standard Footprint so customers can "Smart Swap" between a retimer and a redriver without redesigning the board. I've said before that much of what this means in a technical sense goes over my head. That remains the case lol. It received a public endorsement from AMD's Robert Hormuth for what it's worth. Pushing their Taurus product into 200G Ethernet, UALink and ESUN adds another protocol, and therefore another socket per rack, to a content-per-accelerator figure that has already climbed from $50-100 at founding to over $1,000 today. The OCP standard footprint commoditizes the physical socket, Astera shifts the point of differentiation to the COSMOS software layer it controls, and the AMD endorsement shows the standard has buy-in beyond Nvidia platforms. Just like with memory and compute, demand isn't going anywhere. The more racks that get built, the more pie for Astera Labs. Not to mention the second order revenue effects that happen if the price PER rack also increases. If there is an opportunity to buy at a better valuation, I could see myself increasing this position to 8-10% of the portfolio. Earnings on 8/4. $CRWD // Down 1.2% // 6.7% Allocation Crowdstrike started the month of with a 4:1 stock split. Apart from that, the company didn't do too much this month. Named a new Chief Product Officer, former Splunk, on 7/15. Then on 7/21 there was an OpenAI agent incident at the company Hugging Face. There was a breach and closed AI tools reportedly failed to recognize attackers from defenders and blocked forensic analysis. It's the first high-profile publicly documented case of an AI agent acting as an attacker. It speaks to the future (and current) high demand for cybersecurity in the new world of AI. Similar to Cloudflare, there is a premium valuation that has always been attached to this company. I am fine with Crowdstrike being anywhere from 5-8% of my portfolio. Meaning I could trim slightly next month or even add, depending on what my gut tells me. Earnings on 8/26. $SNOW // Up 12.5% // 3.9% Allocation Snowflake had a quiet month. On 7/15, they announced a CEO compensation package based on performance. If Snowflake's market value doubles Ramaswamy can get $448M in equity. Not the biggest piece of news, but shows you what management thinks is possible. Then in mid-July Databricks, a private competitor who is looking to IPO soonish, raised $3B at $188B valuation on a $1.5B annual run rate on AI-workload demand. The bull read is that this validates the sector as a whole, the bear read is that Databricks is winning within the sector. Snowflake is trading at 13x EV, while this would put Databricks at 17x FY28. On 7/28, Cortex AI Gateway launched at Black Hat, a control layer for governing and securing enterprise AI agents. This agent governance move is Snowflake trying to extract and provide value from where the agents are being authorized rather than just where the data sits. Overall I still really like the consumption-based data business that Snowflake has grown into since I first owned it more than a half decade ago. They are durable and well positioned. Earnings on 8/26. Macro July was driven primarily by a rotation out of AI, evidenced by multiple violent moves downward for my portfolio. Semiconductors lost over $1T during the late July selloff. But I do not think this changes anything about the ongoing AI revolution. I actually think it was organized by the hedge funds/powers-that-be so that institutions could get lower entry into some of these names by shaking out fearful retail investors who sell. The Iran War continues on and off, on and off. More chaos but little to do with my stocks. Inflation data came in pretty decent with a 0.4% decline in June CPI. New Fed Chair Kevin Warsh's comments indicated that interest rate changes, in either direction, are not off the table. For now, no change there. Steady 4.1% unemployment. My biggest concern with the overall economy continues to be consumer weakness and liquidity as a whole. People are still struggling to pay bills/expenses, homeownership is unattainable for an accelerating number of people, and wealth continues to concentrate at the top where the rich accumulate and hoard assets from everybody else. The richest among us want you to own nothing and pay a subscription for everything... and right now it's working in their favor. On the liquidity front, I can't help but wonder how much "ammo" these large institutions have to push the market higher. Probably just something I don't understand yet about the market, but I'm curious at what point could it just "run out?" Regardless, despite the rough month for my portfolio, the macro environment held very stable. Looking forward to all the earnings reports coming in August! Final Portfolio: $NBIS 45.3% 📉 $MU 18.1% 📉 $NVDA 12.4% $RDDT 11.2% 📉 $NET 8.6% 📈 $ALAB 6.9% 📉 $CRWD 6.7% $SNOW 3.9% 📈

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  Emmanuel Geoffrey (@emmageo08) reported 59 minutes ago

  @tryselar Please try and fix this cloudflare “I am human verification”. It’s adding unnecessary friction to student’s access to my program. Please the tech team needs to look into this.

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  Mari (@Maribtxn) reported 1 hour ago

  Explaining Crypto crypto concept with dialogues EP 5 (Cloudflare AI Agent Wallets) how it works, the problems they solve, why it matters in crypto —————————————————— Rookie: every AI agent I build hits the same wall. It wants to use a paid API, and then just... stops. Comes crying back to me for a credit card. Veteran: because it's got no identity and no wallet. Two agents could be doing the exact same job and neither one can prove who they are or pay for anything without a human standing behind them. Rookie: so that's the actual problem. Not intelligence. Plumbing. Veteran: plumbing kills more good ideas than bad logic ever will. So Cloudflare just laid new pipe. Two accounts, not one. Rookie: uhhTwo? Veteran: first one's yours. Real account, real money, real control… you fund it, you set the rules. Second one's your agent's. A virtual wallet, cut off your main account, running on nothing but an API key. Rookie: so the agent's never touching my actual funds. Veteran: never directly,you hand it a budget… let’s say a hundred bucks a week for inference. cap the size of any single purchase. lock it to an approved list of services. cross any of those lines, it stops cold or kicks back to you for approval. Rookie: so it can explore on its own without me babysitting every transaction. Veteran: that’s the whole unlock. It can test twenty different tools in an hour, paying pennies each, and you never see most of it. You only get pulled in when something's actually worth your attention. Rookie: fine, but if it's out there spending on its own, how does anyone selling to it know it's not some rogue script pretending to be my agent? Veteran: you claim a handle. A verifiable identity the agent can present a built on cryptographic keys, not a username and password. Whoever it's transacting with can check that handle and know exactly who authorized it. Rookie:Okay, walk me through an actual purchase. Say it hits a paywall. Veteran: It asks for the resource. Server says "payment required" literally, that's a real HTTP status code that's existed since the 90s and nobody used it till now. Agent pays on the spot, in stablecoins, retries the request, gets the resource. One request, one response, done. Rookie: no subscription. no account creation. No checkout page. Veteran: none of it. Just a price, a payment, a delivery. machine speed commerce. Rookie: so why does this actually matter for crypto? Stablecoins already exist. People already move money on-chain. Veteran: because up till now, stablecoins were mostly humans moving money to other humans, just faster. This is different this is agents autonomously paying other agents and services, thousands of times a day, in amounts too small for any card network or bank to bother with. Cents, not dollars. Rookie: machine-to-machine money. Veteran: and Cloudflare already sits in front of a massive share of the internet. If they're the ones handing out the wallets and the identities, stablecoins stop being a side bet and start being the actual settlement layer for how software pays other software. Rookie: so this isn't a crypto product with an AI use case bolted on. Veteran: it’s the reverse. AI agents finally needed real money rails, and crypto was the only rail built for machines that never sleep and never wait in line. Rookie: is any of this actually live? Veteran: claiming your handle ermm,. yes, right now. Real funding and real payments are still rolling out, region by region. Rookie: so the identity's built. The money's coming. Veteran: that’s exactly it.

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  David Izmailovsky (@David_Omnisc) reported 1 hour ago

  Four software prints in 36 hours, all verified: $DDOG - beat both lines, raised both lines → −19.03% $AXON - raised full-year revenue to 32–34% growth, software gross margin −3.8pp → −8.63% $FSLY - beat both, raised, guided full-year EPS ~50% above consensus → −11.03% $NET - beat both, raised all three lines, took a $143.7M restructuring hit → +14.62% after hours Yesterday I wrote that the market was reading the margin line, not the growth line. Fastly broke that thesis in a session. Cloudflare broke it again tonight, from the other side - its gross margin is more than four points below where it was a year ago. The variable was never the print. It was the positioning going in. Not investment advice.