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Netflix has boxes that are colocated at some ISP locations to stream videos closer to your location. Maybe fast.com connects to those systems.

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Yes it does. For example here for the speedtest it started a connection to: ipv4_1-lagg0-c002.1.hmo001.telmex.isp.nflxvideo.net (which is my ISP Telmex in Hermosillo) and ipv4_1-cxl0-c041.1.dfw003.ix.nflxvideo.net which is in Dallas.

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