Update: Akamai Signs $11.6 Billion Cloud Deal With Anthropic; Shares Up Pre-Bell

05:46 AM EDT, 09/25/2026 (MT Newswires) -- (Updates with stock movement in the headline and the first paragraph.) Akamai Technologies (AKAM) shares were up nearly 25% in premarket activity Friday after the company signed an $11.6 billion, seven-year commitment with Anthropic to support its CPU workload demands using Akamai Cloud's infrastructure. As part of the deal, Akamai issued Anthropic a warrant to purchase non-voting convertible series B preferred stock representing 7.7 million shares of Akamai's common stock on an as-converted basis, at an exercise price of $111.33 per share, with about 2% vesting tied to the current commitment and the remainder vesting if the deal expands by up to $9 billion more, the company said Thursday. Akamai estimated capex tied to the deal at approximately $5.5 billion, including a $1.7 billion increase to 2026 capex, and said it expects no impact to 2026 revenue guidance.