Elon Musk-owned SpaceX is working with Cloudflare (NET.N) to boost the performance of its satellite internet service Starlink, the Information reported on Wednesday, citing a person with direct knowledge of the project.
Shares of Cloudflare, which provides content delivery services, jumped 7.2%.
The two companies are working on a way to increase Starlink's network of mini data centers around the globe that could help it deliver faster network speeds to its customers, the report said.
Starlink is one of a growing number of makers of small satellites that are focused on providing satellite-based internet, including Amazon.com's (AMZN.O) Kuiper, Britain's OneWeb and venture capital-backed Planet.
The report did not specify the financial terms of the partnership.
Cloudflare did not immediately respond to a Reuters request for comment.
Reporting by Jose Joseph and Chavi Mehta in Bengaluru; Editing by Shailesh Kuber