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Cloudflare shares surged 10.5% after the company issued an upbeat outlook, with management saying the opportunities ahead are 'larger' than its current business. The rally reflects investor optimism about Cloudflare's growth trajectory in areas including AI-related security and infrastructure demand. The move adds Cloudflare to a growing list of cybersecurity and cloud infrastructure companies seeing strong investor reception this earnings season amid heightened enterprise spending tied to AI adoption.