Akamai Technologies signed a seven-year agreement with AI company Anthropic valued at $11.6 billion. Akamai will provide cloud infrastructure and software to support Anthropic’s scaling CPU workload demands. Akamai shares rose more than 20% in after-hours trading following the announcement.
The agreement includes a potential $9 billion expansion that could bring the total value to over $20 billion. Akamai issued a warrant to Anthropic for preferred stock representing approximately 5% of Akamai’s outstanding common stock.
This transaction builds on more than $2.8 billion in other cloud commitments Akamai announced earlier this year.