Investor Steve Grasso Says He Is Buying Cloudflare Shares, Citing AI-Driven Momentum
CNBC contributor Steve Grasso pointed to artificial intelligence as a growth driver for the cybersecurity and web infrastructure company, according to a report.
Investor Steve Grasso said he is buying shares of Cloudflare, pointing to artificial intelligence as a factor boosting the company's business prospects, according to a CNBC report published Wednesday.
Cloudflare provides services that help businesses make their websites faster and more secure, the report said. According to CNBC, AI is creating new opportunities for the company, which has been described as fast-growing.
Grasso's comments were made in the context of a broader discussion about momentum in cybersecurity stocks, the report indicated. Specific details about Grasso's investment size, timing, or price targets were not included in the available report.
Cloudflare has positioned itself in the internet infrastructure and security market, competing with other providers of content delivery and cybersecurity services. The report did not specify additional financial metrics, such as revenue figures or stock price performance, tied to the AI-related opportunities cited.
CNBC's report did not include responses from Cloudflare regarding the AI-related business opportunities referenced by Grasso.
Sources
- AI is giving this cybersecurity stock more juice. Steve Grasso says ride the momentum — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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