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Fortune

Sage Lazzaro

Most companies using AI are ‘lighting money on fire,’ says Cloudflare CEO Matthew Prince

Matthew Prince Cloudflare Fortune Google

(Credit: Duy Ho for Fortune)

The recent generative AI boom has companies across industries investing massive amounts of time and money into AI. Matthew Prince, co-founder and CEO of Cloudflare, thinks most of them are just “lighting money on fire.”

The CEO, who runs one of the world’s largest networks underlying the global internet, made the statement onstage at the Fortune Brainstorm AI conference in San Francisco Monday in response to a question about businesses experimenting with AI.

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