Akamai Soars 20% on $11.6B Anthropic Deal

Akamai Technologies shares surged over 20% in after-hours trading after the company announced an $11.6 billion, seven-year deal to supply computing capacity to AI developer Anthropic. The agreement focuses on CPU workloads, with Anthropic able to add up to $9 billion in further commitments, bringing the potential total to roughly $20 billion. Akamai is also granting Anthropic a warrant for up to 5% of its common shares. The deal builds on a previously undisclosed $1.8 billion commitment from Anthropic announced in May. Capital spending tied to the new contract is estimated at $5.5 billion, and Akamai is raising its 2026 capital expenditures by $1.7 billion. The company said the deal will not affect its 2026 revenue guidance.