Anthropic signs an $11.6 billion, seven-year agreement with Akamai to use its cloud infrastructure, Akamai says. The company also includes an option for the arrangement to expand by up to an additional $9 billion, potentially taking the total deal value to about $20 billion.
Alongside the contract, Akamai issues Anthropic a warrant covering 7.7 million shares on an as-converted basis. The warrant gives Anthropic the right to acquire shares equivalent to up to a 5% stake in Akamai, according to the accounts provided by the outlets.
The reporting centers on the size and structure of the commercial agreement and the accompanying equity-linked instrument. While both outlets agree on the key figures—deal value, duration, potential expansion, and the warrant share count/ownership threshold—they differ mainly in how they describe the stake in terms of “up to” 5% versus framing tied to the warrant’s as-converted basis.
