Atlassian and Cloudflare earnings quiet the AI-disruption trade
Atlassian shares surged after hours as quarterly revenue climbed, easing fears that AI applications would displace its software services. Cloudflare raised its annual profit outlook above Wall Street estimates, citing accelerating demand for networking services amid AI adoption.
The pair make opposite cases for the same thesis. Cloudflare sells infrastructure the buildout consumes; Atlassian sells the seat-based software AI agents were supposed to make redundant. Both beating expectations complicates the clean story about which software companies AI eats.
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