Elon Musk-owned SpaceX is working with Cloudflare 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 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.

  - Reuters