Global AI market at $235 billion, expected to grow to $631 billion by 2028, Cloudflare expanding into AI

From Yahoo Finance: 2024-10-05 10:19:00

Market research firm IDC reported that the global artificial intelligence market reached $235 billion. The market is expected to grow with global spending on AI projected to hit $631 billion in 2028. Cloudflare, known for cybersecurity, is now making a push into AI. The company has launched initiatives, including a Workers AI platform. With Cloudflare’s infrastructure, developers can run AI inference applications without needing to purchase hardware. Cloudflare recently introduced AI Audit, a tool to help websites and content creators control and monetize their content from AI bots. Analysts predict Cloudflare’s earnings to grow at an annual rate of 62% for the next five years, making it a potential growth stock to watch.



Read more at Yahoo Finance: 1 Magnificent Stock to Buy Right Now Before That Happens