Akamai Announces $11.6 Billion Multi-year Agreement with Anthropic to Support Growing Demand
Akamai announced an $11.6 billion seven-year commitment from Anthropic to run CPU workloads on Akamai Cloud's distributed infrastructure, with potential expansion of up to an additional $9 billion for a total potential of roughly $20 billion. As part of the deal, Akamai issued Anthropic a warrant for 7.7 million shares (~5% of shares outstanding) at $111.33 per share, with ~2% vesting on today's commitment and the remainder tied to incremental $3 billion service purchases. Akamai estimates ~$5.5 billion of capex tied to the commitment, including a $1.7 billion increase in 2026 capex to pre-purchase memory and other components, while guiding no change to 2026 revenue.
Key figures
- Guidance
- No impact to 2026 revenue guidance; approximately $1.7 billion increase in 2026 capital expenditures
- Deal Value Usd
- $11.6 billion
- Offering Price
- $111.33
- Warrant shares
- 7700000
- Capex increase 2026
- $1.7 billion
- Contract term years
- 7
- Potential total commitment
- $20 billion
- Potential upside expansion
- $9 billion
- Prior cis commitments 2026
- $2.8 billion
- Warrant immediate vest pct
- ~2%
- Capex related to commitment
- $5.5 billion
- Warrant pct of shares outstanding
- up to ~5%
AI analysis
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