Akamai signs $11.6 billion, seven-year cloud services deal with Anthropic
AKAM•Akamai announced an $11.6 billion, seven-year cloud services commitment from Anthropic, with a potential expansion of up to $9 billion. The agreement includes a warrant covering up to about 5% of Akamai’s common stock, and related capital expenditures are estimated at about $5.5 billion.
1. Deal terms
Anthropic’s commitment will support growing CPU workloads. The agreement includes a potential expansion of up to $9 billion, which would lift the total potential commitment to about $20 billion. Akamai issued Anthropic a warrant covering 7.7 million shares on an as-converted basis, up to about 5% of common stock outstanding, at an exercise price of $111.33 per share; about 2% is expected to vest with the $11.6 billion commitment.
2. Capital spending
Related capital expenditures are estimated at about $5.5 billion, with 2026 capital expenditures expected to rise by about $1.7 billion.
