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Anthropic to pay Akamai $11.6 billion over seven years in cloud agreement
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Anthropic will spend $11.6 billion over seven years on Akamai’s cloud infrastructure, Akamai said Thursday.
Key facts
- Each additional $3 billion it commits to Akamai’s cloud services unlocks roughly another 1%, so the deal could grow by as much as $9 billion, to about $20 billion in total
- As part of the deal, Akamai issued Anthropic a warrant, the right to buy shares at a set price, for nonvoting preferred stock convertible into 7.7 million common shares, or up to about 5%
- Anthropic will spend $11.6 billion over seven years on Akamai’s cloud infrastructure, Akamai said Thursday
- That’s more than six times the size of a $1.8 billion deal between the two companies
Summary
The deal is the largest in Akamai’s history and continues Anthropic’s compute gobbling-streak. To build out the capacity, Akamai expects to spend about $5.5 billion. As part of the deal, Akamai issued Anthropic a warrant, the right to buy shares at a set price, for nonvoting preferred stock convertible into 7.7 million common shares, or up to about 5% of the company’s outstanding stock, at $111.33 a share. It’s the first time Akamai has attached a warrant to a cloud deal, and the contract is the largest in company history, Bloomberg reported.