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Akamai lines up $11.6B Anthropic cloud deal and $5.5B capex
Akamai expects $1.7B of additional capex in 2026 for components like memory, which it said will pressure free cash flow near term.
Akamai Technologies has secured an $11.6 billion cloud infrastructure commitment from AI developer Anthropic, the company said, as it shifts from its legacy content delivery network toward distributed compute.
MarketBeat Ratings reports that Akamai projects $5.5 billion in capital expenditures to support the contract, including about $1.7 billion in additional capex in 2026 aimed at securing critical components such as memory.
The spending is expected to pressure free cash flow in the near term, while warrants issued to Anthropic introduce potential equity dilution as the partnership expands.
The agreement is a seven-year deal that management described as a pivot in network utility, with investors weighing the longer term value of anchoring an AI tenant against the near-term hardware investment costs.