Anthropic signs $11.6 billion cloud deal with Akamai, gets warrant for up to 5% stake
AKAM•Anthropic committed to spend $11.6 billion on Akamai cloud services over seven years, with an option to expand the deal by $9 billion. Akamai issued Anthropic a warrant for up to a 5% stake.
1. Seven-year cloud agreement
Anthropic committed to spend $11.6 billion on cloud services from Akamai Technologies over seven years. The agreement could expand by another $9 billion, bringing the potential total commitment to about $20 billion.
2. Spending and warrant terms
Akamai expects the deal to require about $5.5 billion in total capital expenditure and plans to increase its 2026 capital spending by about $1.7 billion to secure and pre-purchase components, including memory. The warrant could give Anthropic up to a 5% stake: about 2% is tied to the initial commitment, and the remaining 3% would vest if the companies expand the agreement. The warrant represents about 7.7 million Akamai shares and has an exercise price of $111.33 per share.
