Akamai shares surge on $11.6 billion Anthropic cloud deal

Akamai Technologies announced a seven-year cloud computing deal with Anthropic valued at $11.6 billion, with potential expansion to $20 billion. The agreement is expected to bolster Akamai's artificial intelligence infrastructure offerings.

Under the terms, Akamai will undertake significant capital expenditure to support the arrangement. The company also stands to acquire approximately a 5% stake in Anthropic as part of the agreement.

Market reaction was positive, with Akamai shares rising following the announcement of this major partnership.