Anthropic commits $11.6 billion to Akamai cloud in largest deal yet
The long-term capacity pact reshapes Akamai’s growth outlook and ties Anthropic’s future workloads to its infrastructure build-out.
Akamai says Anthropic will commit $11.6 billion to its cloud capacity over seven years, making it Akamai’s largest contract to date. The agreement depends on Akamai meeting delivery and service-availability requirements, and either company can end it under certain conditions. Akamai forecasts $150 million to $300 million in revenue starting in the second half of 2027, with revenue reaching an annual rate of about $1.7 billion by the end of 2028. It expects to spend about $5.5 billion to build the capacity. Anthropic also receives a warrant for nonvoting preferred stock convertible into 7.7 million common shares—up to about 5% of Akamai—at $111.33 per share; additional commitments of $3 billion can unlock roughly another 1% and could bring the deal to about $20 billion.
Why it matters
This deal locks in a large, multi‑year stream of demand for Akamai while it spends about $5.5 billion to add capacity, shifting more of its future growth toward running Anthropic’s workloads in its cloud. For Anthropic, the structure means access to significant infrastructure with options to expand the arrangement to about $20 billion, while also gaining equity exposure through a warrant that can convert into up to about 5% of Akamai, with potential for roughly another 1% if it increases its commitments.
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Sources
- TechCrunch