Anthropic Inks $11.6B Cloud Deal With Akamai
Artificial intelligence lab Anthropic has agreed to spend $11.6 billion over seven years on cloud infrastructure provided by Akamai, according to TechCrunch. The agreement represents the largest contract in Akamai history and highlights expanding enterprise demand for general-purpose CPUs to support advanced AI agents.
Under the terms of the agreement, the financial commitment is contingent on Akamai meeting specific delivery and service availability standards. Akamai executives stated on an investor call that revenue from the partnership is expected to begin in the second half of 2027, with an estimated $150 million to $300 million realized that year before reaching an annual pace of $1.7 billion by the end of 2028. To support the capacity requirements, Akamai plans to increase its capital expenditures significantly.
As part of the transaction, Akamai issued Anthropic a warrant for nonvoting preferred stock convertible into 7.7 million common shares, representing up to a 5% stake at a set price. Initial vesting is tied to the first payment, with additional portions unlocking as spending milestones are met. The structure inverses typical AI funding arrangements where infrastructure providers invest in labs, though it mirrors previous milestone-based warrant agreements seen in the sector. Akamai shares rose notably in after-hours trading following the announcement.
Based on reporting by techcrunch.com.
