Cloudflare outage hit major platforms and tech stocks, with Nvidia, AMD and others falling as Nasdaq slid 1.2% and AI ETFs dropped over 2%.

Nvidia and Microsoft unveil a massive AI partnership with Anthropic, Home Depot reduces its full-year sales outlook, and Cloudflare reports widespread outages.

Cloudflare stock slipped as the internet service company suffered several hours of global outage. Here’s why NET shares are worth buying on the pullback today.

As of the latest update, Cloudflare has managed to restore services fully. Users most affected ranged from OpenAI’s ChatGPT, Elon Musk’s X, and various online gaming platforms. This is to be expected given that Cloudflare’s Content Delivery Network (CDN) service is used by 20.4% of all the world’s websites, according to Tuesday’s W3Techs’ data.

Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings by utilizing a distributed, serverless content delivery network, or CDN. The firm's edge computing platform, Workers, leverages this network by providing clients the ability to deploy and execute code without maintaining servers.

Cloudflare, Inc. (NYSE: NET) is one of the stocks related to the AI space that Jim Cramer discussed. Cramer highlighted the company’s solid earnings and its potential to “get more profitable,” as he commented:

Cloudflare's revenue growth was above 30% YoY, defying a weak macro environment and benefiting from AI-driven demand. Read why I upgrade NET stock to Hold.

US stocks retreated on Tuesday as worries about an AI bubble and the broader US economy continued to set markets on edge, with a pivotal Nvidia earnings report and shutdown-delaye

Cloudflare's stock fell on Tuesday after the internet infrastructure company experienced a significant outage that disrupted access to several widely used websites.