Akamai shares surge after Anthropic signs $11.6 billion cloud infrastructure pact
Anthropic has committed to pay Akamai $11.6 billion over seven years for cloud infrastructure, the largest contract in Akamai’s history. The agreement is more than six times larger than a previously reported $1.8 billion deal, with Akamai expecting no 2026 revenue and then a ramp to about $1.7 billion annually by the end of 2028. Akamai also issued Anthropic a warrant for roughly 5% of its shares at $111.33 each, and the contract includes delivery benchmarks and termination rights.
Akamai disclosed the seven-year arrangement on Thursday, calling it the biggest contract it has ever signed. The $11.6 billion commitment is over six times a $1.8 billion deal Bloomberg reported in May, suggesting Anthropic’s infrastructure needs have grown quickly.
Akamai expects no related revenue in 2026, then $150 million–$300 million in 2027 beginning in the second half, reaching roughly $1.7 billion annualized by late 2028. The pact includes a warrant for about 5% of Akamai shares at $111.33 each and could reach about $20 billion if Anthropic spends more. Delivery and service-availability benchmarks apply, and either side may terminate under certain conditions.
The deal may reinforce how much AI compute demand shapes cloud providers and investors, potentially concentrating influence among a few large vendors. Akamai shareholders could see sharper swings tied to one customer’s spending and delivery milestones. Businesses and consumers might eventually feel effects through the availability, pricing, and reliability of AI services, though the contract’s benchmarks and termination clauses mean those outcomes remain uncertain.