Cloudflare's latest data offers one of the clearest snapshots yet of how AI companies consume the web, and how little they give back. The company, which powers roughly 20% of the internet, tracks how AI bots crawl websites versus how often those platforms send users back through referrals. The resulting "crawl-to-refer" ratio is a simple yet telling metric: how much value is extracted compared to returned. The early April 2026 figures are stark. Anthropic is the worst by a wide margin, with a