Akamai lands $11.6B Anthropic compute deal, shares jump over 20% after hours

Akamai has signed a seven-year, $11.6 billion agreement to supply computing capacity to Anthropic, and its shares jumped more than 20% in after-hours trading.

Per Akamai's announcement and SiliconANGLE's report, the deal is built around CPU workloads, served from Akamai Cloud's distributed network of thousands of points of presence. Anthropic can add up to $9 billion in further commitments, for a potential total of about $20 billion. Akamai also issued a warrant convertible into up to about 5% of its common shares at an exercise price of $111.33, with roughly 2% vesting on today's commitment.

To secure supply chain components including memory, Akamai is raising its 2026 capital expenditures by about $1.7 billion, with total capex tied to the deal estimated at about $5.5 billion. The company said the deal will not change its 2026 revenue guidance.

In May, Akamai disclosed a $1.8 billion, seven-year commitment from an unnamed frontier model company; Bloomberg reported the next day, citing a person with direct knowledge, that the customer was Anthropic. The cloud infrastructure services business posted $99 million in second-quarter revenue, up 39% year over year. Anthropic also signed a 20-year lease this year for about 401 megawatts at a TeraWulf data center campus.