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Akamai Signs $11.6B Seven-Year Cloud Deal with Anthropic

By Drooid · Sep 27, 2026, 6:03 PM UTC · How we work

Summary

Akamai Signs Anthropic Deal

Akamai Technologies signed an $11.6 billion, seven-year cloud services agreement with Anthropic.
The agreement grants Anthropic access to Akamai’s CPU-focused cloud infrastructure for AI workloads.
Akamai plans to invest $5.5 billion in capital projects to support the deal.
Akamai projects revenue of $150-$300 million beginning late 2027, rising to $1.7 billion in 2028.
Anthropic receives a warrant for up to 7.7 million Akamai shares (~5%) at $111.33 each, with 2% vesting immediately.

Summary

Analysts Raise Targets

Guggenheim raised its price target to $225 from $190 and kept a Buy rating.
Morgan Stanley upgraded revenue growth outlook to about 16% and kept an Overweight rating with a $165 target.
DA Davidson maintained a Buy rating and lifted its price target to $185.
Retail investors on Stocktwits turned “extremely bullish” with very high message volume after the announcement.

History

Historical Context

IBM created a Watson business unit on Jan 9 2014, investing $1 billion to offer cloud-delivered AI services. That early AI-cloud model set a template for later deals, and Akamai’s seven-year, $11.6 billion cloud contract with Anthropic mirrors the precedent, prompting analysts to raise price targets for emerging AI service firms in the market as valuations shift.

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Akamai Signs Anthropic Deal

Akamai Technologies signed an $11.6 billion, seven-year cloud services agreement with Anthropic.
The agreement grants Anthropic access to Akamai’s CPU-focused cloud infrastructure for AI workloads.
Akamai plans to invest $5.5 billion in capital projects to support the deal.
Akamai projects revenue of $150-$300 million beginning late 2027, rising to $1.7 billion in 2028.
Anthropic receives a warrant for up to 7.7 million Akamai shares (~5%) at $111.33 each, with 2% vesting immediately.

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