Earlier quoted context omitted.
They don't see the traffic unless they analyze the memory of your running server, because the SSL termination happens inside the server. Encrypted traffic passes through their network, which they don't have the keys for. Cloudflare, on the other paw, literally offers to do the SSL termination for you, as in they hold the private keys and perform the decryption on their servers that they control. Then they pass the de…
They can see the traffic if you're using one of their load balancers. And even if not, snooping on VMs is pretty trivial. For example this project https://github.com/KVM-VMI/kvm-vmi makes it easy to look at memory / processes on a VM.
Only if you let them manage the SSL connection. Load balancers can easily relay individual TCP connections that are encrypted - load balancing doesn't require decryption.
> And even if not, snooping on VMs is pretty trivial.
They'd have to go out of their way to do this, and this would probably be the end of them if it were ever found out. So it's safe to assume any provider who wants to continue existing will not be doing this.