Akamai Inks $11.6B AI Infrastructure Deal With Anthropic, Stock Soars 26%
AKAM sits 82% above its 52-week low of $70.82.
Summary
Akamai signed a seven-year, $11.6B agreement to provide cloud infrastructure and software to Anthropic for CPU workload growth. The deal could expand to $20B if certain conditions are met. Akamai issued warrants to Anthropic for 387,051 Series B preferred shares at $2,226.60 each, representing a 5% warrant, vesting in tranches tied to $3B increments of additional Anthropic commitments. Akamai also authorized Jabil to purchase $1.7B of memory components. Shares surged over 26% in extended trading. This is a transformative contract for Akamai, whose Q2 revenue was $1.1B, and validates its cloud infrastructure strategy. The company will host a conference call at 5:30 p.m. EST to discuss details.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — The 8-K details a 5% warrant for 387,051 Series B preferred shares at $2,226.60 each, vesting in tranches tied to $3B increments of additional Anthropic commitments. Akamai also authorized Jabil to purchase $1.7B of memory components.
At the time of this announcement, AKAM was trading at $128.68 on NASDAQ in the Technology sector, with a market capitalization of approximately $15.9B. The 52-week trading range was $70.82 to $165.45. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Seeking Alpha.