Anthropic has entered into a seven-year agreement to utilize Akamai’s cloud infrastructure, committing to a total expenditure of $11.6 billion. This contract marks the largest deal in Akamai’s history, significantly exceeding a previous $1.8 billion arrangement between the two firms.
Akamai anticipates that revenue from this partnership will begin in the second half of 2027, with projections of $150 million to $300 million for that year. By the end of 2028, the company expects the annual revenue run rate to reach approximately $1.7 billion.
To support the increased demand, Akamai plans to invest $5.5 billion in capacity expansion and is allocating an additional $1.7 billion to capital expenditures this year for component procurement. The agreement remains contingent on Akamai meeting specific service-availability and delivery standards.
As part of the deal, Akamai issued warrants to Anthropic for nonvoting preferred stock convertible into 7.7 million common shares at $111.33 per share. This stake represents up to 5% of Akamai’s outstanding stock, with the potential for the total contract value to increase by up to $9 billion based on additional spending milestones.
