Akamai says Anthropic committed $11.6 billion in seven-year cloud deal

Akamai says Anthropic committed to spending $11.6 billion over seven years on its cloud infrastructure, the largest contract in the company’s history. The agreement depends on delivery and service-availability requirements, can be terminated under certain conditions and represents a bet on CPUs, whose demand has grown as AI agents take on more tasks. Akamai did not say what Anthropic will use the processors for.

As part of the contract, Akamai issued Anthropic a warrant for preferred stock convertible into up to 7.7 million common shares, equivalent to about 5% of the company. Each additional $3 billion Anthropic commits would unlock roughly another 1% and could raise the deal to about $20 billion. According to Akamai executives on an investor call, the company will not receive revenue from the contract this year; it expects $150 million to $300 million in 2027 and an annual run rate of about $1.7 billion by the end of 2028.