Akamai Technologies expanded its partnership with Anthropic through at least $11.6 billion in cloud-services commitments over seven years. The agreement supports Anthropic's growing CPU workloads through Akamai Cloud's distributed AI infrastructure and software, adding to more than $2.8 billion in multi-year Cloud Infrastructure Services commitments Akamai disclosed earlier this year. Anthropic also received a warrant for non-voting convertible Series B Preferred Stock equivalent to 7.7 million common shares, or up to about 5% of Akamai's shares outstanding. The warrant has an exercise price of $111.33 per share and would cost about $857 million to exercise fully. About 2% of the potential stake vests with the initial commitment, while the remaining 3% depends on up to $9 billion in additional purchases, which would bring total commitments to $20.6 billion. Akamai estimates $5.5 billion in capital expenditures linked to the agreement, including about $1.7 billion of additional 2026 spending to secure and pre-purchase supply-chain components such as memory, and said the spending will not affect its 2026 revenue guidance. Existing coverage reported a 16.66% after-hours gain in Akamai shares, while the newer market quotation showed AKAM down 6.78%; the differing price moves are retained because the available reports do not establish which market snapshot supersedes the other.