Skip to content
All theses

Cloudflare

NET

Cloudflare compounds as the developer platform for the AI era: revenue keeps growing fast, developers keep adopting Workers, and it keeps shipping AI platform launches.

Stance
Bullish
Position
Long
Opened
Horizon
2027-12-31

Compared with Akamai, Fastly.

Read the journal page on GitHub
Holding since

1. Revenue grows 25% or more a year

35.9% for the period ending 2026-06-30, against a floor of 25.0%.

Kill condition
Below 25% for 2 straight quarters
Signal
Quarterly revenue against the same quarter a year earlier (SEC filings), beside Akamai and Fastly

Latest reading

35.9% for

Value
$696M
A year earlier
$512M (2025-06-30)
Rivals, same period
Akamai 5.4% · Fastly 23.3%

Source: data.sec.gov

0%12.5%25%37.5%50%Dec 31Mar 31Jun 30
Holding since

2. Developer adoption compounds

97,507,809, 7% below the high of 104,503,962 on 2026-10-13 (kill at 73,152,773); 182 of 182 days of history.

Kill condition
The trailing 4 weeks fall 30% below their 26-week high
Signal
npm downloads of wrangler, the Workers CLI, over the trailing 28 days

Latest reading

97,507,809 for

Window
trailing 28 days

Source: api.npmjs.org

050,000,000100,000,000150,000,000200,000,000Apr 9May 27Jul 14Aug 31Oct 18
Unresolved since

3. Hiring scales in engineering and sales

281; 10 of 90 days of history, needs 30.

Kill condition
Those roles fall 25% or more from their 90-day high
Signal
Open roles in Engineering, Infrastructure, Production Engineering, Field Sales, Sales, Mid Market, BDR and Solution Engineering

Latest reading

281 for

Breakdown
BDR 14 · Engineering 65 · Field Sales 54 · Infrastructure 22 · Mid Market 37 · Production Engineering 0 · Sales 22 · Solution Engineering 67

Source: boards-api.greenhouse.io

0125250375500Oct 9Oct 12Oct 14Oct 17Oct 19
Holding since

4. It keeps shipping AI platform launches

8 rated major in the last 90 days; newest "Agents - New persistent browser tool in the Agents SDK, with tabs and logins that last between turns", 6 days ago.

Kill condition
No major launch in 90 days
Signal
Each Workers AI or Agents changelog entry, rated a major launch or minor

Verdicts, newest first

  • Cloudflareminor

    The entry adds a single model, PhoneLLM Mini, to the existing Workers AI catalog, which the rubric rates minor.

    Title
    Workers AI, Realtime - Pipecat PhoneLLM Mini now available on Workers AI
    Products
    ["Workers AI","Realtime"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-10-15-phonellm-mini-workers-ai/
    Summary
    @cf/daily-co/phonellm-mini-alpha-2 , a model from the Pipecat ↗︎ team at Daily, is now available on Workers AI . PhoneLLM is built for voice agents and other realtime AI applications, where a model has to reply quickly and call the right tool mid-conversation. In a voice agent, the language model sits between speech-to-text and text-to-speech, so every second it takes adds to the caller's wait. De
    Date
    2026-10-15

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflaremajor

    The entry announces a new capability now provided in the Agents SDK: a persistent browser tool with tabs and logins that last between turns.

    Title
    Agents - New persistent browser tool in the Agents SDK, with tabs and logins that last between turns
    Products
    ["Agents"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-10-13-persistent-browser/
    Summary
    The Cloudflare Agents SDK now provides a browserTool that gives your agent a Browser Run browser it can return to on later turns. Your agent can open a website, inspect a page, and come back to it with its tabs, cookies, and login session intact while the browser session remains alive. When you give browserTool to your agent, the model writes code that drives the browser through the Chrome DevTool
    Date
    2026-10-13

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry extends the existing Cloudflare API MCP server to send Workers Issues as MCP Events; it is an added option on an existing product, not a new product, model family or major API version.

    Title
    Agents, Workers - Cloudflare API MCP server sends Workers Issues as MCP Events
    Products
    ["Agents","Workers"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-10-13-cloudflare-mcp-events/
    Summary
    Workers Issues provides built-in error monitoring for Cloudflare Workers. It detects production failures and groups related failures into issues without an SDK or application wrapper. The Cloudflare API MCP server now sends these issues as MCP Events ↗︎ , the first event it exposes. MCP clients discover cloudflare.alert.workers_observability_real_time_issue with events/list and subscribe with even
    Date
    2026-10-13

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    A web_search tool added to the existing Agents SDK is a new option within a shipped SDK; the entry does not announce a new product or major version.

    Title
    Agents - New web_search tool in the Agents SDK, powered by the Cloudflare Web Search API
    Products
    ["Agents"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-10-12-web-search/
    Summary
    The Cloudflare Agents SDK now provides a web_search tool that searches the public web through the Cloudflare Web Search API , powered by ceramic.ai, Exa, and Linkup . When you give the web_search tool to your agent, the model provides a query and max results, and receives back a short numbered list of titles, URLs, and trimmed descriptions. When you also provide the web_fetch tool to your agent, t
    Date
    2026-10-12

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    OpenCode 2.0 support arrives through the experimental OpenCodeHarness, so it is not a generally available capability or a new product.

    Title
    Agents, Workers - Run OpenCode 2.0 on Cloudflare with the Agents SDK
    Products
    ["Agents","Workers"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-10-12-opencode-harness/
    Summary
    The Agents SDK now supports OpenCode 2.0 ↗︎ through the experimental OpenCodeHarness . Run OpenCode inside a plain Durable Object, with sessions stored in SQLite and Lifecycle jobs that wake interrupted work after eviction. The agents/models/opencode provider connects OpenCode to Workers AI through the AI binding. OpenCode plugins extend the harness with custom tools, remote MCP servers, and skill
    Date
    2026-10-12

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    A web_fetch tool added to the existing Agents SDK is a new option within a shipped SDK, not a new product, model family or major version.

    Title
    Agents - New web_fetch tool in the Agents SDK for reading webpages and documents, with automatic markdown conversion
    Products
    ["Agents"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-10-11-web-fetch/
    Summary
    The Cloudflare Agents SDK now provides a web_fetch tool that reads webpages, PDFs, and supported Office documents, using Workers AI Markdown Conversion to turn them into text the model can read. The tool requests Markdown directly from sites that support Markdown for Agents and formats JSON for the model. When you give the web_fetch tool to your agent, the model provides a URL and receives back th
    Date
    2026-10-12

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry adds Cloudflare skills to the existing Cloudflare API MCP server through an extension; it is not a new product, model family or major version, and the entry does not say it is generally available.

    Title
    Agents - Cloudflare API MCP server serves Cloudflare skills
    Products
    ["Agents"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-10-10-cloudflare-mcp-skills/
    Summary
    The Cloudflare API MCP server now serves Cloudflare skills ↗︎ through the Skills over MCP extension ↗︎ . MCP clients that support the extension discover the skills with skills/list and read their files at skill:// / . To use them, add https://mcp.cloudflare.com/mcp to an MCP client that supports the extension ↗︎ .
    Date
    2026-10-10

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    Clef-omni joins the existing Clef family on Workers AI alongside a Clef-flash price cut, which is a single model added to an existing catalog plus a price change.

    Title
    Workers AI - Clef-omni adds audio and video input, Clef-flash is now cheaper, and Clef is faster
    Products
    ["Workers AI"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-10-09-clef-omni-workers-ai/
    Summary
    @cf/cloudflare/clef-omni is now available on Workers AI. Clef-omni is a decision model that takes audio (WAV or MP3) and video (MP4 or WebM) input alongside text and images. It joins Clef and Clef-flash in the Clef family of open-weight decision models. We also cut the price of Clef-flash, so it now costs less than Jev, and made Clef faster. Clef-omni: one decision model for every modality Previou
    Date
    2026-10-09

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflaremajor

    The entry announces first-class Agents SDK support for building agents on the Pi harness via a new PiHarness class, a new capability that is available now.

    Title
    Agents, Workers - Run the Pi Durable harness on Cloudflare with the Agents SDK
    Products
    ["Agents","Workers"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-10-02-pi-harness/
    Summary
    The Agents SDK now provides first-class support for building agents using the Pi harness. You can build long-running agents using the combination of Pi 1.0 ↗︎ , Pi Durable ↗︎ , and the new PiHarness class that the Cloudflare Agents SDK provides, ensuring your agent's work is durably persisted, even if interrupted mid-turn. Built with Earendil ↗︎ , this integration is our first step toward first-cl
    Date
    2026-10-02

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflaremajor

    The entry says the Workers OAuth Provider is now v1 with a new split API, a new major version of an SDK.

    Title
    Agents, Workers - The best way to do MCP auth just got better: Workers OAuth Provider goes v1, with a new split API and full support for MCP 2026-07-28
    Products
    ["Agents","Workers"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-10-01-workers-oauth-provider-1x/
    Summary
    @cloudflare/workers-oauth-provider ↗︎ is now v1, with a new split API. One Worker acts as the authorization server: it signs users in and issues tokens. Your MCP server acts as the resource server, and can run in another Worker. It validates each token with the authorization server over a Service Binding , without crossing the public Internet. It supports the MCP 2026-07-28 authorization specifica
    Date
    2026-10-01

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflaremajor

    The entry introduces Clef, the first models trained by the Workers AI team and a new decision-model family, available on Workers AI today.

    Title
    Workers AI - Introducing Clef: Cloudflare's first open-source decision models, now on Workers AI
    Products
    ["Workers AI"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-10-01-clef-workers-ai/
    Summary
    Meet @cf/cloudflare/clef and @cf/cloudflare/clef-flash , the first models trained by the Cloudflare Workers AI team, available on Workers AI today. Clef is a decision model, in the same family as Typesafe's Jev ↗︎ . Instead of generating text, it reads an input state and a set of typed questions, then returns a probability for every allowed answer. Your agent gets a structured decision it can act
    Date
    2026-10-01

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry adds the rejectIfBusy option to inference requests, a small option.

    Title
    Workers AI - Reject busy synchronous inference requests
    Products
    ["Workers AI"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-09-17-reject-if-busy/
    Summary
    The rejectIfBusy option lets synchronous Workers AI inference requests fail when capacity is unavailable. Use it when your application should not wait in a capacity queue. Pass the option as the third argument to the Workers AI binding: const response = await env. AI . run ( "@cf/google/gemma-4-26b-a4b-it" , { messages: [{ role: "user" , content: "Explain capacity queues." }], }, { rejectIfBusy: t
    Date
    2026-09-17

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry adds turn metrics to the existing voice package, a small option rather than a new product.

    Title
    Agents - Inspect Voice Agent turn latency and outcomes
    Products
    ["Agents"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-09-11-voice-diagnostics-turn-metrics/
    Summary
    @cloudflare/voice v0.4.0 now lets you inspect where each Voice Agent turn spends time and how it ends. client. addEventListener ( "turnmetrics" , ( turn ) => { console. log (turn.outcome, turn.turnTotalMs); }); About the Voice package The @cloudflare/voice package lets you build real-time voice agents with Cloudflare Agents. It streams microphone audio to an Agent over WebSocket, transcribes speec
    Date
    2026-09-11

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry adds a single third-party model to the existing Workers AI catalog.

    Title
    Workers AI - Z.ai GLM-5.3 now available on Workers AI
    Products
    ["Workers AI"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-08-28-glm-5.3-workers-ai/
    Summary
    @cf/zai-org/glm-5.3 is now available on Workers AI. It is Z.ai's flagship agentic coding model, built for long-running, tool-driven development workflows rather than single-turn chat. GLM-5.3 uses the same base model as GLM-5.2, with every gain coming from post-training. The results are substantial on coding and agentic benchmarks: Z.ai reports ↗︎ a 50% improvement over GLM-5.2 on its in-house Z.a
    Date
    2026-08-28

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry adds a single third-party model to the existing Workers AI catalog.

    Title
    Workers AI - Z.ai GLM-5.3 Flash now available on Workers AI
    Products
    ["Workers AI"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-08-26-glm-5.3-flash-workers-ai/
    Summary
    @cf/zai-org/glm-5.3-flash is now available on Workers AI. It is the first natively multimodal model in the GLM-5 series, built on a Mixture-of-Experts architecture with 320B total parameters and 18B active per token. GLM-5.3 Flash is the first GLM-family model on Workers AI to support multimodal inputs. It outperforms GLM-5.2 across benchmarks and real-world workloads at a lower price, while appro
    Date
    2026-08-26

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry makes OAuth scopes optional during authorization, a small option.

    Title
    Agents, Workers - Choose OAuth scopes for Wrangler and the Cloudflare API MCP server
    Products
    ["Agents","Workers"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-08-22-wrangler-mcp-optional-oauth-scopes/
    Summary
    Wrangler and the Cloudflare API MCP server now use optional OAuth scopes. During authorization, you can choose which optional scopes to grant instead of approving every scope requested by each client. The consent dialog now includes the option to edit the permissions you grant to Wrangler or the Cloudflare API MCP server: You can then choose which specific permissions to grant: Required scopes rem
    Date
    2026-08-22

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry adds a single third-party model to the existing Workers AI catalog.

    Title
    Workers AI - Qwen 3.8 27B now available on Workers AI
    Products
    ["Workers AI"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-08-17-qwen-3.8-27b-workers-ai/
    Summary
    @cf/qwen/qwen3.8-27b is now available on Workers AI. Qwen 3.8 27B is a 27-billion-parameter instruction-tuned vision language model from Alibaba's Qwen family. It processes images and text together, with reasoning and function calling for agentic workflows. Key capabilities: Vision : Accept image and text inputs and generate text responses. Reasoning : Support thinking mode for complex, step-by-st
    Date
    2026-08-17

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry adds third-party models to the existing Workers AI catalog, not a new product or capability.

    Title
    Workers AI - DeepSeek V4 Flash and Pro now available on Workers AI
    Products
    ["Workers AI"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-08-14-deepseek-v4-workers-ai/
    Summary
    @cf/deepseek-ai/deepseek-v4-pro-0813 and @cf/deepseek-ai/deepseek-v4-flash-0731 are now available on Workers AI. DeepSeek V4 Flash and DeepSeek V4 Pro are the first Workers AI models with a full one million (1,048,576) token context window . Use them for long-horizon agentic workflows, large codebases, and multi-step reasoning that exceed the context limits of every other model hosted on the platf
    Date
    2026-08-14

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflaremajor

    The entry announces that Workers AI and AI Gateway now provide unified model access and billing, a new generally available capability.

    Title
    AI Gateway, Workers AI - Workers AI and AI Gateway unify model access and billing
    Products
    ["AI Gateway","Workers AI"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-08-07-workers-ai-unified-billing/
    Summary
    Workers AI and AI Gateway now provide a unified path for accessing models and managing inference traffic. Use the same AI binding and REST API to call models hosted on Workers AI or by supported third-party providers, with AI Gateway providing observability, logging, caching, security, and billing controls. Unified entrypoints and observability The AI binding supports both Workers AI and third-par
    Date
    2026-08-07

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflaremajor

    The entry says agent tracing is now available for applications built with the Agents SDK, a new generally available capability.

    Title
    Agents, Workers - Agent traces for Think, Flue, and AI SDK instrumented by Agents SDK
    Products
    ["Agents","Workers"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-08-04-agent-tracing/
    Summary
    Agent tracing is now available for applications built with the Agents SDK. Traces show each agent turn alongside model calls, tool runs, approvals, token usage, and Workers runtime operations. Turn on Workers tracing in your Wrangler configuration: { "$schema" : "./node_modules/wrangler/config-schema.json" , "observability" : { "traces" : { "enabled" : true } } } [ observability . traces ] enabled
    Date
    2026-08-04

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflaremajor

    The entry announces a new product, an open-source agent runtime released as an early preview.

    Title
    Agents, Workers - Preview: @cloudflare/computer agent runtime
    Products
    ["Agents","Workers"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-08-03-cloudflare-computer/
    Summary
    We're releasing an early preview of @cloudflare/computer ↗︎ , an open-source agent runtime that gives every agent its own computer. The runtime dynamically orchestrates between fast, efficient isolates and full Linux containers, so the agent always runs on the right compute primitive for the task at hand. @cloudflare/computer provides a virtual filesystem backed by SQLite, which you can populate f
    Date
    2026-08-03

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry restricts some models to the Workers Paid plan, a limit change.

    Title
    Workers AI - Select models now require the Workers Paid plan
    Products
    ["Workers AI"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-07-28-models-require-workers-paid/
    Summary
    We are limiting Workers Free plan access to a few resource-intensive models so we can prioritize capacity for the broader Workers AI user base. This helps everyone get a more reliable inference experience, with fewer 429 and 3040 (Out of Capacity) errors. The following models now require the Workers Paid plan : @cf/moonshotai/kimi-k2.6 @cf/moonshotai/kimi-k2.7-code @cf/zai-org/glm-5.2 On the Worke
    Date
    2026-07-28

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflaremajor

    The entry says the product-specific MCP servers now support the new MCP Specification, moving them to a new version of the protocol API.

    Title
    Agents, Workers - Cloudflare MCP servers support the new MCP 2026-07-28 Specification
    Products
    ["Agents","Workers"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-07-28-cloudflare-mcp-servers-mcp-2026-07-28/
    Summary
    Cloudflare's product-specific MCP servers now support the new MCP 2026-07-28 Specification. Each request runs on a fresh stateless server without an MCP protocol session or protocol-specific Durable Object. The /mcp endpoint also accepts stateless requests from 2025 Streamable HTTP clients. Most clients can reconnect without configuration changes. Use /mcp for new connections. Historical /sse URLs
    Date
    2026-07-28

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry adds support for an MCP release candidate in a minor Agents SDK release, not a new major version.

    Title
    Agents, Workers - Agents SDK adds MCP Specification 2026-07-28 support
    Products
    ["Agents","Workers"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-07-27-agents-sdk-v0.20.0-mcp-sdk-v2/
    Summary
    Agents SDK v0.20.0 adds client and server support for the MCP 2026-07-28 release candidate ↗︎ . Workers can serve tools, prompts, resources, and elicitation without an MCP transport session or Durable Object. Agents can connect to both MCP 2026-07-28 servers and existing legacy servers. Client support The MCP client manager now uses @modelcontextprotocol/client . For each connection, it probes for
    Date
    2026-07-27

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry widens supported peer versions of the AI SDK, a compatibility change rather than a new product.

    Title
    Agents - Agents SDK packages support AI SDK v6 and v7
    Products
    ["Agents"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-07-23-ai-sdk-v6-v7-support/
    Summary
    The agents , @cloudflare/ai-chat , @cloudflare/codemode , and @cloudflare/think packages now support AI SDK v6 and v7. Existing applications can remain on v6 when updating these packages. Applications can also adopt v7 without changing the Cloudflare Agents APIs they use. The supported peer ranges are ai@^6 || ^7 and @ai-sdk/react@^3 || ^4 . Use matching major versions: pair AI SDK v6 with @ai-sdk
    Date
    2026-07-23

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry reduces schema conversion and adds an opt-out for tool exposure, small options.

    Title
    Agents, Workers - Agents SDK reduces MCP schema conversion, adds exposure controls for MCP in Think and Code Mode SDK adds direct host APIs
    Products
    ["Agents","Workers"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-07-22-mcp-codemode-updates/
    Summary
    This release reduces repeated MCP schema conversion and adds an opt-out for Think's automatic MCP tool exposure. It also lets non-AI-SDK hosts invoke the durable Code Mode runtime directly. Control direct MCP tool exposure in Think Agents SDK MCP clients now reuse converted input and output schemas while a live connection keeps the same tool catalog. This avoids converting every MCP JSON Schema to
    Date
    2026-07-22

    Detected , rated . Source: developers.cloudflare.com

  • Cloudflareminor

    The entry lets agents handle elicitation requests from MCP servers, a small addition to an existing client.

    Title
    Agents, Workers - Agents can respond to MCP elicitation requests
    Products
    ["Agents","Workers"]
    Link
    https://developers.cloudflare.com/changelog/post/2026-07-13-mcp-client-elicitation/
    Summary
    Agents connected to Model Context Protocol (MCP) servers with addMcpServer can now handle elicitation ↗︎ requests. Elicitation lets an MCP server request user input while it handles a tool call. Form mode collects structured, non-sensitive data. URL mode asks for consent before opening an out-of-band flow, such as third-party authorization or payment. sequenceDiagram participant User participant A
    Date
    2026-07-13

    Detected , rated . Source: developers.cloudflare.com

Notes

A research journal, not investment advice. Statuses are computed from the terminal’s own stored data against kill conditions written before the data arrived; OpenRouter is one aggregator’s traffic, not market share. Judged claims stay unresolved until the judge rates them.

Not investment advice.

A claim you would like tested needs a public number behind it. Request a dataset on GitHub.