Cloudflare shares jump after forecast raise on higher AI-driven spending

Cloudflare shares jumped following a forecast raise driven by increased AI spending and strong second-quarter results, improving its 2026 outlook. Similarly, Avita Medical shares surged after achieving record second-quarter performance. In contrast, Sweetgreen shares slid following weak second-quarter results and a lowered outlook. These movements reflect divergent financial trajectories among the companies, with AI-driven demand boosting Cloudflare and record performance aiding Avita Medical, while Sweetgreen struggled to maintain its growth momentum during the period.