Earlier today, cybersecurity firm Cloudflare (NET) announced that it is acquiring Replicate, which is a platform known for making it simple to run AI models. This deal will allow developers using Cloudflare’s Workers platform to access over 50,000 AI models with just a single line of code. While the financial terms weren’t disclosed, the transaction is expected to close within two months and is a major step toward Cloudflare’s plan to simplify AI development at scale.
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Interestingly, Replicate functions like an app store for artificial intelligence by giving developers easy access to a wide variety of models. Cloudflare CEO Matthew Prince explained that the company’s goal is to remove infrastructure hurdles so developers can focus on building great products. Indeed, Replicate has helped developers run complex models without needing to manage GPU hardware or dependencies.
As a result, he emphasized that with Replicate, developers will be able to find any model they need and instantly run it on Cloudflare’s global network. Ben Firshman, CEO of Replicate, was similarly excited and stated that the merger will create a seamless platform for building the next generation of AI-powered applications. In addition, Replicate confirmed that its current users will retain full access to services without interruption.
Is Cloudflare Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on Cloudflare stock based on 14 Buys, 10 Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average Cloudflare price target of $255.05 per share implies 24.9% upside potential.
