Akamai Technologies Inc. announced an $11.6 billion seven-year contract with artificial intelligence giant Anthropic, sending its shares up as much as 20% in after-hours trading on Thursday. The agreement will support Anthropic's CPU workload requirements through Akamai Cloud's distributed AI infrastructure and software, and adds to more than $2.8 billion in multi-year Cloud Infrastructure Services commitments Akamai announced earlier this year. Under the deal, Akamai issued Anthropic a warrant for non-voting convertible Series B Preferred Stock representing 7.7 million shares of Akamai common stock on an as-converted basis, or up to approximately 5% of the company's outstanding common stock, at an exercise price of $111.33 per share. About 2% of Akamai's common stock outstanding is expected to vest in connection with the $11.6 billion commitment, with the remaining approximately 3% vesting through expansion of the commitment up to an additional $9 billion within the seven-year warrant term, at roughly 1% of outstanding common stock for each additional $3 billion of cloud services purchased. Total capital expenditures related to the $11.6 billion commitment are estimated at approximately $5.5 billion, and the company expects no impact to its 2026 revenue guidance alongside an increase of approximately $1.7 billion in 2026 capital expenditures to secure and pre-purchase critical supply chain components, including memory.
Akamai Technologies IncAkamai issued Anthropic a warrant for up to ~5% of its stock and expects ~$1.7B higher 2026 capex tied to the deal.
NVIDIA CorporationAnthropic secured $11.6 billion of Akamai Cloud AI infrastructure capacity for its CPU workloads.
