Akamai, Anthropic Enter $11.6 Bln Multi-year Cloud Agreement

(RTTNews) - Akamai Technologies (AKAM) announced on Thursday a seven-year agreement with Anthropic involving $11.6 billion in contractual commitments to support the AI company's growing CPU workload requirements through Akamai Cloud's distributed infrastructure and software. The relationship could expand by up to an additional $9 billion during the seven-year term, bringing the total potential commitment to approximately $20 billion. As part of the expanded relationship, Akamai has issued Anthropic a warrant to purchase non-voting convertible Series B Preferred Stock representing 7.7 million shares of Akamai common stock on an as-converted basis, or up to approximately 5% of shares outstanding. The exercise price is $111.33 per share.