Akamai Technologies has announced a cloud infrastructure agreement with Anthropic valued at $11.6 billion over seven years, expanding their relationship to support the growing demand for computing capacity associated with artificial intelligence workloads.
Under the cloud infrastructure agreement, Anthropic will use Akamai Cloud’s distributed infrastructure and software to support the expansion of its CPU workloads at scale. The arrangement strengthens Akamai’s position in providing infrastructure for large enterprise and AI workloads across its distributed cloud environment.
The agreement also includes provisions that could expand the relationship by up to an additional $9 billion during the seven-year term. This would bring the total potential commitment between the companies to approximately $20 billion, subject to further purchases of cloud services under mutually agreed terms.
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 Akamai shares on an as-converted basis. The warrant could represent up to approximately 5% of Akamai’s common stock outstanding.
Akamai Expands Distributed Cloud Infrastructure
The cloud infrastructure agreement is designed to support Anthropic’s increasing CPU workload requirements through Akamai Cloud’s distributed architecture. Akamai said its platform provides compute capabilities across core and edge environments through a network spanning thousands of points of presence.
The company has described its cloud platform as supporting a continuum of compute and a diversified hardware environment for building, deploying and operating applications. For AI workloads, Akamai said its infrastructure is designed to support application performance, reliability and security throughout the application lifecycle.
The arrangement with Anthropic adds to more than $2.8 billion in multi-year Cloud Infrastructure Services commitments across Akamai’s customer base that were announced earlier in 2026. The company said those agreements reflect increasing demand for infrastructure that can support customers building, deploying and operating AI workloads at scale.
The cloud infrastructure agreement therefore represents a major expansion of Akamai’s cloud services business, with the company preparing additional infrastructure capacity to accommodate Anthropic’s expected workload growth.
Akamai estimates that total capital expenditures associated with the $11.6 billion commitment will be approximately $5.5 billion. The company also expects capital expenditures to increase by approximately $1.7 billion in 2026 as it secures and pre-purchases critical supply chain components, including memory.
Anthropic Relationship Could Expand Further
The cloud infrastructure agreement includes a mechanism for the relationship to grow beyond the initial $11.6 billion commitment. Up to an additional $9 billion in cloud service purchases could be added within the seven-year term.
Under the arrangement, each additional $3 billion purchase of cloud services at mutually agreed terms would result in the vesting of approximately 1% of Akamai’s common stock outstanding under the warrant. Approximately 2% of Akamai’s common stock outstanding is expected to vest in connection with the initial commitment, while the remaining approximately 3% is linked to the potential expansion of the relationship.
Akamai said the agreement will support the company’s broader efforts to provide distributed infrastructure for AI applications and workloads. The company does not anticipate an impact on its 2026 revenue guidance from the commitment.
For Anthropic, the cloud infrastructure agreement provides access to Akamai Cloud’s distributed infrastructure and software to support CPU-intensive workloads. For Akamai, the arrangement expands its role in providing cloud capacity for large-scale AI applications.
The cloud infrastructure agreement establishes a long-term infrastructure relationship between the two companies, with the potential for further expansion as Anthropic’s computing requirements grow.