Microsoft Unveils Unified Copilot With Autopilot Mode as Nadella Warns on AI Subsidies

Akamai Technologies shares soared after the cloud provider inked a seven-year $11.6 billion deal to provide computing power to Anthropic. Analysts said the contract, which is entirely focused on CPUs, should boost Akamai's growth and offers an attractive profitability profile, with TD Cowen noting that as long as industry-wide computer shortages remain, Akamai should be able to win more cloud infrastructure contracts. People shares jumped on a report that MGM Resorts is discussing making a bid to purchase the Barry Diller-owned media giant, in which People owns about a 27% stake. Costco Wholesale's quarterly profits surpassed Wall Street's estimates after the company recorded a benefit of nearly $200 million related to tariff refunds, though the stock was down about 1% as analysts noted it trades at roughly 40 times forward earnings. Swedish pharma company Nanexa rose 50% after Novo Nordisk, which makes Ozempic, agreed to pay up to 1.3 billion to license and develop Nanexa's drug delivery technology.

Anthropic is partnering with Akamai in a $12 billion computing deal, building on a $1.8 billion computing deal the two companies struck earlier in the year. The agreement is Akamai's biggest deal on record and a huge catalyst for the company, which is pivoting from its traditional content-delivery business toward AI infrastructure. Cloud infrastructure services, the segment the new deal falls under, accounted for just 7% of Akamai's sales last year, when overall sales were just over $4 billion and security made up the large bulk of the business. As part of the structure, Anthropic receives a warrant giving it the right to buy Series B shares at $113.33 each, which then convert into 7.7 million shares of common stock, making Anthropic a potential investor in Akamai. Under the deal, Akamai will give Anthropic access to CPUs.

Akamai Technologies surged 21.3% in premarket trading after announcing a seven-year, $11.6 billion cloud services commitment from AI company Anthropic, designed to support Anthropic's growing CPU workload demands across Akamai Cloud's distributed infrastructure. The deal includes provisions allowing the relationship to expand by up to an additional $9 billion, potentially taking the total commitment to about $20 billion, and Akamai also disclosed a hardware supply agreement with Lenovo and authorized contract manufacturer Jabil to procure about $1.7 billion in memory components. People Incorporated rose 6.5% in premarket trading after The Wall Street Journal reported that MGM Resorts International is weighing a potential takeover bid for Barry Diller's media conglomerate, with an offer potentially coming within days, just one day after People Incorporated withdrew its own $48.30-per-share cash proposal to acquire MGM's remaining public shares. Select Water Solutions rose 5.5% after announcing a definitive agreement to acquire Pilot Water Solutions for $700 million, plus up to $15 million in potential contingent consideration, in a transaction including $600 million in cash and $100 million in Class A common stock. Prime Medicine climbed 11.7% in after-hours trading to $3.49 after the U.S. Food and Drug Administration cleared its Investigational New Drug application for PM647, an investigational in vivo Prime Editor designed to correct the E342K mutation in the SERPINA1 gene, the root cause of Alpha-1 Antitrypsin Deficiency, paving the way for a global first-in-human Phase 1/2 clinical trial. On the downside, Comcast slipped 1.6% in premarket trading to $21.77 after KeyBanc downgraded the stock to Underweight from Sector Weight with an $18 price target, Twilio fell 3.7% after HSBC downgraded it to Reduce from Hold with a $211 price target, Zscaler fell 3.6% after naming Ross Tackett Chief Revenue Officer effective Oct. 1, succeeding Mike Rich, and Scholastic tumbled 11% after reporting fiscal first-quarter 2027 results that missed expectations, with revenue down 3.9% year over year to $216.8 million and an adjusted loss per share of $3.63.