Cloudflare posted strong results this quarter, with AI infrastructure and the developer ecosystem accelerating growth, and the channel revenue share reaching a new high. It added 1 million developers, nearly equaling the total for the entire previous year; the channel revenue share reached 30%; Dynamic Workers grew from zero to 1 million+ in 15 days. AI inference optimizes GPU/CPU hybrid scheduling, with collaborations including Anthropic, driving explosive growth in Dynamic Workers; over 3/4 of new additions to the developer platform come from new customers; channel partners are driving Act Two product sales, with renewal rates at an all-time high. Management did not provide specific financial guidance but is optimistic about the growth in infrastructure demand driven by AI and agent ecosystems, with a favorable trend in pool-of-funds renewals. Positive signals: accelerated developer growth and channel success; risk signals: restructuring layoffs, but management emphasizes that these are for optimizing role allocation.