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$Cloudflare (NET)$ This company has already surpassed $100 billion, but it's not a stock that is often discussed in the market. This company has come into my view—not because it has risen over 20% in the past month, nor because of its recent financial report that stands out. It's because recently, when I was building my website, from construction, running to GEO design, I hardly left the Cloudflare platform. It was at this time that I first fully understood what Cloudflare was actually doing. After this time, I believe its business and future market space will be completely reshaped with the help of AI. Many people have the most intuitive understanding of Cloudflare as a CDN + cybersecurity company, but now and in the future, it has truly entered the intermediary link between AI and website interaction. The original business still has a huge market, but it's not very attractive. The market space can be estimated, but the latter is growing exponentially, and the future peak is nowhere to be seen. This content is my personal research record, and I hope that through this viewpoint alone, you can dialectically understand Cloudflare's current and future business and strategic direction. 1. First, let's talk about the current business. If you're not very familiar with website setup, and this article also expands on the product in detail, it might be quite abstract, as shown in the diagram below: So we can simply imagine the following scenario: