Anthropic to pay Akamai $11.6 billion over seven years in cloud deal

Live updates

1. 3d ago

   S&P Downgrades Akamai to Junk After $11.6B Debt-Financed Anthropic Deal

   S&P Global Ratings downgraded Akamai Technologies from BBB- to BB+ after the company financed its $11.6 billion seven-year cloud infrastructure agreement with Anthropic through debt. The rating cut follows Akamai's Q3 2026 report showing 6% year-over-year revenue growth to $1.122 billion and non-GAAP earnings of $1.77 per share. Akamai reported more than $14 billion in multi-year cloud infrastructure commitments, including the Anthropic deal with potential expansion of up to an additional $9 billion.

   Why it matters

   The downgrade reflects investor concerns about Akamai's increasing debt load to fund its strategic shift toward AI-focused infrastructure services. The company is positioning its network as an AI infrastructure platform rather than just a traditional content delivery network, launching Akamai Inference and Agent Sandbox supported by expanded NVIDIA GPU capacity. This strategic pivot aims to capitalize on the growing demand for distributed cloud computing for AI workloads.

   What is confirmed

   • S&P Global Ratings downgraded Akamai Technologies from BBB- to BB+ after the company chose debt financing to support its $11.6 billion Anthropic cloud contract.
   • Akamai Technologies reported Q3 2026 revenue of $1.122 billion, growing 6% year over year.
   • Akamai posted non-GAAP earnings of $1.77 per share.
   • Akamai reported more than US$14b in multi year cloud infrastructure commitments anchored by a US$11.6b, seven year Anthropic deal.
   • The transaction includes a potential expansion of up to an additional $9 billion.

   What to watch next

   • Akamai's debt-to-equity ratio trajectory in subsequent quarters
   • Potential credit rating actions by Moody's or Fitch following S&P's downgrade
   • Akamai's Q4 2026 and Q1 2027 earnings reports for guidance on debt servicing capacity
   Sources used for this update (3)

   1. dailyaibrief.com — S&P cuts Akamai to junk-grade BB+ over debt-funded $11.6 ...
   2. finance.yahoo.com — Anthropic Deal Could Reshape The Case For Akamai Stock
   3. www.fool.com — Akamai (AKAM) Q3 2026 Earnings Call Transcript - The Motley Fool
   confidence 90%
2. 6d ago

   Akamai Details Q3 Revenue and AI Cloud Scale

   Akamai Technologies reported third-quarter 2026 revenue of $1.122 billion, growing 6% year over year. The financial report follows a massive seven-year, $11.6 billion cloud infrastructure agreement with Anthropic, designed to leverage Akamai Cloud distributed infrastructure for CPU workload growth at scale. The transaction includes a potential expansion of up to an additional $9 billion. Akamai posted non-GAAP earnings of $1.77 per share. Executives including CEO Tom Leighton and CFO Ed McGowan participated in the Q3 earnings call to discuss the financial results and AI cloud deals.

   Why it matters

   The massive infusion of capital follows a period where Akamai's entire cloud computing segment generated $99 million in a single quarter, highlighting a significant scale difference for the company. Anthropic's public filing puts $895.4 billion of commitments behind the frontier revenue story. Financial analysts responded to the partnership with mixed target price revisions for Akamai stock.

   What is confirmed

   • Akamai Technologies reported third-quarter 2026 revenue of $1.122 billion.
   • Akamai posted third-quarter non-GAAP earnings of $1.77 per share.
   • Anthropic signed a seven-year contract worth $11.6 billion with Akamai.
   • The transaction provides for potential expansion of up to an additional $9 billion.

   Still unconfirmed

   • Revenue came in slightly below consensus due to supply chain and third-party factors.

   What to watch next

   • Execution of the seven-year Anthropic cloud infrastructure contract and CPU workload scaling
   • Future analyst price target revisions for Akamai stock following Q3 earnings
   Sources used for this update (8)

   1. www.zerohedge.com — Futures Rise, Oil Slides As Iran's Supreme Leader Talks Peace And Shrugs Off Ras Tanura Attack
   2. research.investors.com — Akamai Technologies Stock Quote: AKAM Stock News, Quotes ...
   3. finance.biggo.com — [Akamai Technologies Q3 2026 Earnings Call] Akamai Lands $11. ...
   4. tradersdaily.com — Akamai Got $11.6B From Anthropic. It Also Gave Away a Piece ...
   5. www.zacks.com — AKAM Q3 Earnings Call Highlights AI Cloud Deals and 2027 ...
   6. beta.earningswhispers.com — Earnings Whispers | Akamai's $11.6 Billion Anthropic Deal ...
   7. stockanalysis.com — Akamai (AKAM) Q3 2026 Earnings Call Transcript & Audio
   8. globaltechresearch.substack.com — The Landlord Invoice Behind the Frontier IPO - by Massimo
   confidence 95%
3. 11d ago

   Anthropic and Akamai Ink $11.6 Billion Cloud Infrastructure Deal

   Anthropic has committed to a seven-year, $11.6 billion cloud infrastructure agreement with Akamai Technologies. The contract supplies artificial intelligence services to support the company's scaling operations. Financial analysts responded to the massive partnership with mixed target price revisions for Akamai stock. Some research firms boosted price targets between US$160 and US$225, while others lowered projections to a range of US$100 to US$140. These divergent analyst valuations highlight varying long-term outlooks regarding the cloud and security businesses following the massive technology commitment.

   Why it matters

   Specialized network infrastructure is facing surging demand as artificial intelligence developers require vast computing power for training and inference workloads. Strategic cloud partnerships help technology firms secure the distributed capacity necessary for sustained operational scaling. Market observers are evaluating how major multi-billion dollar service commitments alter the competitive positioning of legacy content delivery and cloud providers.

   What is confirmed

   • Anthropic agreed to a seven-year cloud infrastructure deal with Akamai Technologies valued at $11.6 billion.

   Still unconfirmed

   • The cloud infrastructure agreement includes a potential expansion to $20 billion and a warrant allowing Anthropic to acquire up to 5% of Akamai.
   • Equity research firms adjusted Akamai price targets into the US$160 to US$225 range and reduced others to about US$100 to US$140 following the deal and a US$5.5b capital plan.
   • The contract utilizes distributed artificial intelligence infrastructure and software for CPU workloads across industries like healthcare, media, and logistics.
   • Market reaction to the strategic cloud partnership pushed Akamai stock up 5.4 percent.

   What to watch next

   • Any formal regulatory filings or disclosures detailing the reported warrant and expansion terms.
   • Subsequent quarterly earnings reports indicating the revenue realization pace from the Anthropic commitment.
   • Further adjustments to analyst price targets as cloud and security business metrics develop.
   Sources used for this update (3)

   1. www.krugmaninsights.com — Anthropic signs $11.6 billion Akamai deal reshaping cloud ...
   2. thetechcapital.com — Akamai agrees US$11.6 billion cloud infrastructure deal with ...
   3. finance.yahoo.com — Akamai (AKAM) Stock Faces Mixed Analyst Target Changes As ...
   confidence 100%
4. 16d ago

   Akamai Secures $11.6 Billion Multi-Year Cloud Deal With Anthropic

   Anthropic signed a seven-year service commitment valued at $11.6 billion with Akamai Technologies to utilize distributed artificial intelligence infrastructure and software for CPU workloads. The agreement addresses accelerating software adoption and scaling demands for CPU, GPU, and storage capacity across multiple industries including healthcare, media, and logistics. Market reaction to the strategic cloud partnership pushed Akamai stock up 5.4 percent as investors reassessed the long-term artificial intelligence cloud opportunity. The massive contract also highlights growing enterprise reliance on specialized network infrastructure to support intensive training and inference operations globally.

   Why it matters

   This multi-year contract expands the strategic relationship between Akamai and Anthropic to handle heavy distributed processing requirements. Akamai Cloud utilizes NVIDIA RTX PRO 6000 Blackwell GPU offerings alongside its distributed network to support mission-critical workloads. The agreement provides a concrete model for infrastructure providers seeking to capture enterprise spending on advanced computing capacity.

   What is confirmed

   • Akamai announced a strategic agreement with Anthropic valued at $11.6 billion over a seven-year period.
   • Anthropic will leverage Akamai Cloud distributed artificial intelligence infrastructure and software to support growing demand for CPU workloads.
   • Akamai shares rose 5.4 percent as investors revisited the artificial intelligence cloud opportunity.
   • Akamai Cloud provides high performance CPU, GPU, and storage capacity including NVIDIA RTX PRO 6000 Blackwell GPU offerings for training and inference.

   Still unconfirmed

   • The total value of the Akamai and Anthropic agreement reaches $13 billion according to industry blog analysis.

   What to watch next

   • Updates on Akamai capital expenditure plans required to support the $11.6 billion service commitment.
   • Future quarterly earnings reports detailing enterprise adoption of Akamai Cloud across EMEA, Japan, and Asia-Pacific.
   • Further stock performance indicators reflecting investor evaluation of infrastructure scaling costs versus revenue growth.
   Sources used for this update (4)

   1. netpoleons.com.vn — Akamai Announces $11.6 Billion Multi-year Agreement with ...
   2. simplywall.st — How Anthropic AI Deal Will Impact Akamai Stock Investors
   3. 5gworldpro.com — Akamai's $13B Anthropic Deal: A Blueprint for Telcos
   4. www.quiverquant.com — Akamai Gains as Investors Revisit AI Cloud Opportunity
   confidence 90%
5. 19d ago

   Anthropic Partners With Akamai in $11.6 Billion Cloud Deal

   Anthropic agreed to pay Akamai $11.6 billion over seven years in a cloud contract that leverages Akamai Cloud distributed AI infrastructure to support CPU workloads. The massive financial commitment requires Akamai to undertake $5.5 billion in capital spending, creating a tension between its AI growth and immediate infrastructure scaling costs. Akamai shares fell 4.0% as investors evaluated the financial impact of the agreement. Meanwhile, Akamai reports increased enterprise adoption of its cloud services across EMEA, Japan, and Asia-Pacific.

   Why it matters

   San Francisco-based Anthropic is an artificial intelligence public benefit corporation founded in January 2021 by former members of OpenAI, including siblings Daniela Amodei and Dario Amodei. The firm develops the Claude series of proprietary large language models and is valued at US$965 billion following a May 2026 Series H funding round. Wikipedia sources report the company reportedly planned an initial public offering in 2026.

   What is confirmed

   • Anthropic agreed to a $11.6 billion, seven-year cloud contract with Akamai.
   • The deal leverages Akamai Cloud's distributed AI infrastructure to support Anthropic's CPU workloads.
   • The agreement necessitates $5.5 billion in capital spending by Akamai.
   • Akamai shares fell 4.0% as investors evaluated the financial impact of the contract.
   • Anthropic was founded in January 2021 by former members of OpenAI, including Daniela Amodei and Dario Amodei.
   • Anthropic was valued at US$965 billion in a May 2026 Series H funding round.

   Still unconfirmed

   • Anthropic reportedly plans an initial public offering in 2026.

   What to watch next

   • Akamai's upcoming capital expenditure reports detailing the $5.5 billion infrastructure buildout
   • Quarterly updates on enterprise adoption of Akamai cloud services across EMEA, Japan, and Asia-Pacific
   • Further financial disclosures regarding Anthropic's planned initial public offering
   Sources used for this update (8)

   1. claude.com — Claude Code by Anthropic | AI Coding Agent, Terminal, IDE
   2. www.anthropic.com — Home \\ Anthropic
   3. en.wikipedia.org — Anthropic - Wikipedia
   4. www.anthropic.com — Company \ Anthropic
   5. claude.com — The AI for Problem Solvers | Claude by Anthropic
   6. platform.claude.com — Anthropic - Claude Platform
   7. academy.claude.com — Claude Academy · Learn to work and build with Claude
   8. zh.wikipedia.org — Anthropic - 维基百科，自由的百科全书
   confidence 100%
6. 22d ago

   Akamai stock drops 4% following Anthropic AI cloud deal

   Akamai Technologies shares fell 4.0% as investors evaluate the financial impact of an 11.6 billion dollar, seven-year cloud contract with Anthropic. The deal leverages Akamai Cloud's distributed AI infrastructure to support Anthropic's CPU workloads. While Akamai reports increased enterprise adoption of its cloud services across EMEA, Japan, and Asia-Pacific, the Anthropic commitment necessitates 5.5 billion dollars in capital spending. This creates a tension between the company's growth in AI and GPU workloads and the immediate costs required to scale its infrastructure.

   Why it matters

   Akamai is transitioning toward AI cloud services to diversify its business. This specific agreement follows 2.8 billion dollars in existing multi-year commitments from other customers. The scale of the Anthropic deal tests Akamai's ability to manage massive capital expenditures while maintaining investor confidence.

   What is confirmed

   • Anthropic signed an 11.6 billion dollar, seven-year cloud contract with Akamai Technologies.
   • Akamai must spend 5.5 billion dollars in planned capital to support the agreement.
   • Akamai Technologies stock decreased by 4.0% as investors weighed the AI cloud deal.
   • Akamai reported enterprise adoption of cloud computing services in EMEA, Japan, and Asia-Pacific.

   What to watch next

   • Quarterly earnings reports detailing the impact of the 5.5 billion dollar capital spend
   • Further updates on GPU workload adoption rates in the Asia-Pacific region
   Sources used for this update (4)

   1. stockanalysis.com — Akamai Technologies (AKAM) Stock Price & Overview
   2. tracefeed.com — Anthropic | Artificial Inteligence feed • TraceFeed
   3. www.quiverquant.com — Akamai Technologies falls as investors weigh AI cloud ...
   4. www.archyde.com — Akamai Cloud Wins New AI and GPU Workloads – Archyde
   confidence 90%
7. 28d ago

   Anthropic and Akamai Ink $11.6 Billion Cloud Deal

   Akamai Technologies and Anthropic signed an $11.6 billion, seven-year cloud contract designed to support Anthropic's growing CPU workload demands. The partnership utilizes Akamai Cloud's distributed AI infrastructure and software. This agreement follows more than $2.8 billion in multi-year Cloud Infrastructure Services commitments across Akamai's broader customer base. The massive commitment requires Akamai to undertake $5.5 billion in planned capital spending, prompting short-term stock volatility and a valuation test for the company as investors weigh the balance of growth potential against substantial capital requirements.

   Why it matters

   The multi-year agreement pivots Akamai toward AI compute and distributed cloud services while jolting the edge cloud sector. Investors have reacted with short-term share price declines, including a 5.6 percent drop over a seven-day period and a 20 percent drop over 90 days, though the year-to-date return remains up 18.6 percent. The transaction also includes an issued warrant allowing Anthropic to acquire up to a 5 percent stake in Akamai.

   What is confirmed

   • Anthropic and Akamai Technologies signed a seven-year cloud contract valued at $11.6 billion.
   • The contract is designed to support Anthropic's accelerating CPU workload demands through Akamai Cloud's distributed AI infrastructure and software.
   • The agreement is paired with $5.5 billion of planned related capital spending by Akamai.
   • The commitment adds to more than $2.8 billion in multi-year Cloud Infrastructure Services commitments across Akamai's customer base.

   Still unconfirmed

   • The Anthropic deal sparked a stock rally for Fastly, Cloudflare, and Datadog in October 2026.

   What to watch next

   • Akamai's upcoming capital expenditure execution and its effect on future cash inflows.
   • Potential exercise of the warrant allowing Anthropic to acquire up to a 5 percent stake in Akamai.
   • Broader market reactions among edge cloud competitors such as Fastly, Cloudflare, and Datadog.
   Sources used for this update (5)

   1. www.frontier-enterprise.com — Anthropic, Akamai forge US$11.6-B deal to meet growing demand
   2. coinmarketcap.com — Latest Anthropic tokenized stock (PreStocks) News ...
   3. simplywall.st — Akamai Technologies (AKAM) Faces A Valuation Test As ...
   4. shattered.io — Akamai's $11.6B Anthropic Deal Jolts Edge Cloud - shattered.io
   5. cloudminister.com — Anthropic Akamai Deal: $11.6B Explained - CloudMinister
   confidence 100%
8. 35d ago

   Akamai's $11.6B Anthropic Deal Drives Stock Volatility

   Akamai Technologies' stock experienced volatility after announcing a seven-year, $11.6 billion cloud deal with Anthropic, with investors weighing growth potential against significant capital requirements and possible dilution. The deal drives $5.5 billion in capital expenditure for Akamai as it pivots toward AI compute and distributed cloud services. Akamai issued a warrant allowing Anthropic to acquire up to a 5% stake in the company.

   Why it matters

   The deal is the largest in Akamai's history and may reach a total value of $20 billion. It represents a strategic shift for Akamai, moving away from content delivery networks toward AI compute and distributed cloud services. This move is significant as it shows how companies are investing heavily in AI infrastructure.

   What is confirmed

   • Akamai Technologies has signed a seven-year agreement to receive $11.6 billion from Anthropic for cloud infrastructure.
   • The deal drives $5.5 billion in capital expenditure for Akamai.
   • Akamai issued a warrant allowing Anthropic to acquire up to a 5% stake in the company.
   • Akamai's stock fell 1.3% after the announcement.

   What to watch next

   • Akamai's stock performance in the coming days
   • Details on the capital expenditure plan
   • Anthropic's involvement in AI compute and distributed cloud services
   Sources used for this update (7)

   1. www.marketbeat.com — AKAM News Today | Why did Akamai Technologies stock go up today?
   2. davidlat.substack.com — Judicial Notice Supplement (09.27.26): Goodbye Kiss
   3. finance.yahoo.com — Akamai Stocks Fall 1.3% although Anthropic Commits $11.6 Billion
   4. www.ibtimes.com.au — Gen Digital Stock Jumps Nearly 7% as Norton Owner Rebounds From GoDaddy Takeover Selloff on Upbeat Outloo....
   5. finance.yahoo.com — A Nearly $12 Billion AI Deal Could Be Another Reason to Buy ...
   6. www.gurufocus.com — Akamai Stocks Fall 1.3% although Anthropic Commits $11.6 Billion
   7. www.globaldatacenterhub.com — Akamai's $11.6B Anthropic Deal, Crusoe's 1GW+ Campus ...
   confidence 100%
9. 39d ago

   Anthropic Commits $11.6 Billion to Akamai for CPU Cloud Infrastructure

   Anthropic has signed a seven-year agreement to pay Akamai Technologies $11.6 billion for cloud infrastructure, specifically targeting CPU workloads. The deal is the largest in Akamai's history and may reach a total value of $20 billion. As part of the arrangement, Akamai issued a warrant allowing Anthropic to acquire up to a 5% stake in the company. The agreement drives $5.5 billion in capital expenditure for Akamai as it pivots from content delivery networks toward AI compute and distributed cloud services.

   Why it matters

   This partnership highlights a growing demand for CPUs in AI computing to support inference. Akamai is using the deal to shift its business model toward edge AI. The move follows a period of expansion for Akamai into cybersecurity and cloud computing.

   What is confirmed

   • Anthropic committed $11.6 billion over seven years for Akamai cloud infrastructure.
   • The agreement focuses on supporting CPU workloads on Akamai Cloud.
   • Akamai issued a warrant for Anthropic to take a stake of up to 5% in the company.
   • The deal is the largest in Akamai's history.

   Still unconfirmed

   • The total value of the deal could reach $20 billion.
   • The deal drives $5.5 billion in capital expenditure for Akamai.
   • Anthropic lost nearly $42 billion in 2025 according to a leaked prospectus.

   What to watch next

   • Confirmation of the conditional expansion terms that could raise the deal value to $20 billion
   • Akamai's quarterly margin reports reflecting the $5.5 billion capex spend
   • Verification of the leaked 2025 financial losses for Anthropic
   Sources used for this update (15)

   1. www.wionews.com — Anthropic commits $11.6 billion to Akamai in AI cloud deal that could reach $20 billion
   2. www.tradingkey.com — Akamai Stock Price Forecast: Anthropic Commits $11.6 Billion to Expand AI Compute, Can $20 Billion in Pot....
   3. finance.yahoo.com — Akamai signs $11.6 billion cloud deal with Anthropic
   4. techengage.com — Akamai’s $11.6 billion Anthropic cloud deal: costs, timeline ...
   5. www.debelegger.nl — Gelekt prospectus toont AI-reus met 42 miljard dollar verlies
   6. www.marketbeat.com — Akamai’s Anthropic Deal Puts $5.5 Billion Behind Its Edge AI ...
   7. inlevel9.com — How Akamai Became Anthropic's $11.6 Billion Landlord · Issue #285 · INLEVEL9
   8. finance.yahoo.com — Jim Cramer spots overlooked AI stock after $11.6 billion deal
   9. blog.hangadac.com — 앤트로픽 아카마이 116억 달러 계약의 반전 3가지 - 천의무봉
   10. www.finanznachrichten.de — AKAMAI TECHNOLOGIES INC
   11. finance.yahoo.com — Akamai Just Landed an $11.6 Billion AI Deal. How This Could ...
   12. www.znetlive.com — Akamai & Anthropic’s $11.6B AI Infrastructure Deal: Key ...
   confidence 90%
10. 45d ago

    Anthropic Signs $11.6 Billion Cloud Deal With Akamai

    Anthropic has committed to pay Akamai Technologies $11.6 billion over seven years for cloud infrastructure and services. The agreement focuses on CPU-based distributed inference across Akamai network locations. As part of the arrangement, Akamai is granting Anthropic a warrant for a stake of up to 5% of its stock, which grows as spending increases. The multi-year commitment caused Akamai stock to surge following the announcement. Additional agreements with companies like Lenovo and Jabil further extended the market rally for Akamai shares.

    Why it matters

    This infrastructure agreement marks a significant departure from the heavy reliance on Nvidia graphics processing units that currently dominates the artificial intelligence sector. By utilizing Akamai network edge locations for CPU-centered inference, Anthropic is diversifying its hardware computing capabilities. Financial analysts at Piper Sandler noted the sheer magnitude of the arrangement could shift Akamai from a value asset into a hypergrowth one.

    What is confirmed

    • Anthropic committed to pay Akamai $11.6 billion over seven years for cloud services.
    • Akamai granted Anthropic a warrant for up to a 5 percent stake in its stock.
    • Shares of Akamai surged following the announcement of the agreement.

    Still unconfirmed

    • The total value of the bet on CPUs could eventually grow to about $20 billion.

    What to watch next

    • Whether Anthropic expands its cloud spending toward the rumored $20 billion threshold.
    • Performance results of CPU-based distributed inference across Akamai edge locations.
    Sources used for this update (17)

    1. Reuters — Akamai signs $11.6 billion cloud deal with Anthropic, grants warrant for up to 5% stake
    2. Bloomberg.com — Anthropic Strikes $12 Billion AI Computing Deal With Akamai
    3. WSJ — Anthropic to Pay Akamai Technologies $11.6 Billion Over Seven Years for Cloud Services
    4. Investor's Business Daily — Akamai Stock Surges On Anthropic AI Computing Agreement
    5. GlobeNewswire — Akamai Announces $11.6 Billion Multi-year Agreement with Anthropic to Support Growing Demand
    6. Yahoo Finance — Akamai-Anthropic Deal’s Magnitude Is Impressive, Says Piper Sandler – Sees It Shift From Being A Value Asset To A Hypergrowth One
    7. Yahoo Finance — Akamai lands $11.6 billion Anthropic deal, shares soar
    8. Seeking Alpha — Biggest stock movers Friday: AKAM, NXH, TWLO, and more
    9. TechCrunch — Anthropic to pay Akamai $11.6 billion over seven years in cloud deal
    10. Seeking Alpha — Akamai extends Anthropic rally with Lenovo, Jabil deals (AKAM:NASDAQ)
    11. Yahoo Finance — Premarket movers: Akamai surges on Anthropic deal , Comcast and Twilio slip
    12. techcrunch.com — Anthropic to pay Akamai $11.6 billion over seven years in cloud deal
    confidence 90%