Akamai lands $11.6B cloud computing deal with Anthropic

Akamai Technologies has signed an $11.6-billion seven-year cloud computing deal with AI developer Anthropic.

The agreement, which could expand by another $9 billion to reach $20 billion, points to the growing demand for heavy-duty computing power as artificial intelligence tools scale globally.

Interesting, the partnership does not focus on graphics processors (GPUs), which are driving the AI industry today, and instead centres around central processing units (CPUs). Anthropic will tap Akamai Cloud’s distributed AI infastructure and software to handle its surging CPU workload demands and serve its AI applications faster and more reliably.

The deal marks a major win for Akamai as it accelerates its expansion beyond traditional content delivery and cybersecurity into large-scale cloud computing. Prior to this announcement, Akamai had logged just over $2.8 billion in multi-year cloud infrastructure commitments earlier this year.

"Anthropic is advancing the AI revolution, and we are thrilled they chose Akamai’s capabilities for building and operating AI infrastructure at scale,” said Dr Tom Leighton, Co-founder and CEO of Akamai.

“Our expanding global footprint, combined with our years of experience serving the world’s largest enterprises, positions us to be the infrastructure provider for secure and responsible AI applications.”

As part of the partnership, Akamai is giving give Anthropic a financial stake in its performance. Akamai has issued Anthropic a warrant to purchase 7.7 million shares of non-voting Series B preferred stock, convertible to common stock, or roughly 5% of Akamai’s outstanding shares, at an exercise price of $111.33 per share.

About 2% of these shares will vest under the initial $11.6 billion agreement. The remaining 3% will vest incrementally—roughly 1% for every additional $3 billion purchase of cloud services—if Anthropic exercises its option to expand the contract over the next seven years.

The total capital expenditures to support the deal's massive compute scale are estimated to be around $5.5 billion.

In a statement, Akamai said it anticipates no impact to its 2026 revenue guidance, and an increase of around $1.7 billion in capital expenditures in 2026 to secure and pre-purchase critical supply chain components, including memory.

Akamai’s cloud platform extends high-performance cloud computing from the core to the edge, enabling organisations to build and scale next-generation AI applications while delivering comprehensive, multi-layered security to safeguard enterprises against evolving cyber threats.