Akamai shares jump more than 20% on $11.6B Anthropic computing deal

What happened

jumped more than 20% in after-hours trading today after the cloud and cybersecurity company revealed an $11.6 billion, seven-year deal to supply computing capacity to artificial intelligence developer Anthropic PBC. The agreement is built around central processing unit workloads, where Akamai said Anthropic’s demand is accelerating.

UPDATED 18:46 EDT / SEPTEMBER 24 2026 CLOUD Akamai shares jump more than 20% on $11.6B Anthropic computing deal by Duncan Riley Shares of Akamai Technologies Inc. Anthropic can add as much as $9 billion in further commitments under the terms, for a potential total of about $20 billion.

Akamai is also giving Anthropic a possible equity stake. The warrant it issued covers nonvoting convertible Series B (an early stage of company funding) preferred stock that would convert into up to about 5% of Akamai’s common shares, with an exercise price of $111.33.

About 2% should vest in connection with today’s commitment. Capital spending tied to the $11.6 billion commitment is estimated at about $5.5 billion in total.