Akamai announced on September 24, 2026, a seven-year, $11.6 billion cloud-services agreement with Anthropic to support the AI company’s growing CPU workloads. The deal covers Akamai Cloud infrastructure and software; further purchases worth up to $9 billion depend on mutually agreed terms.
The agreement supports Anthropic’s CPU workloads
The commitment is for Akamai Cloud services and software to support Anthropic’s growing CPU workloads. Akamai describes its platform as distributed infrastructure spanning core and edge computing.
The additional $9 billion is conditional
The $11.6 billion is the initial contractual commitment. Akamai said the relationship could expand through additional cloud-service purchases on mutually agreed terms. If the full $9 billion expansion occurs, the stated amounts add up to as much as $20.6 billion over the agreement’s seven-year term.
| Stage | Amount | Condition |
| Initial commitment | $11.6 billion over seven years | Contractual commitment announced by Akamai |
| Possible expansion | Up to an additional $9 billion | Further cloud-service purchases on mutually agreed terms |
| Potential combined commitment | Up to $20.6 billion | Requires the full expansion |
The warrant is tied to the agreement’s spending milestones
Akamai issued Anthropic a warrant for non-voting convertible Series B preferred stock equivalent to 7.7 million common shares on an as-converted basis. The exercise price is $111.33 per common share, and the warrant could represent up to approximately 5% of Akamai’s common stock outstanding.
About 2% is expected to vest in connection with the initial commitment. The remaining approximately 3% would vest in increments of about 1% for each additional $3 billion in cloud-service purchases on mutually agreed terms.
Akamai estimated billions in capital spending
Akamai estimated approximately $5.5 billion in capital expenditures related to the initial commitment. Separately, it expected its 2026 capital expenditures to rise by approximately $1.7 billion to secure and pre-purchase supply-chain components, including memory. Akamai said the agreement would not affect its 2026 revenue guidance.
