Anthropic signs $11.6bn Akamai cloud deal and gets warrant for 5% of Akamai
Anthropic has signed an $11.6bn, seven-year agreement to use Akamai’s cloud infrastructure, Akamai announced after the US market closed on Thursday. The deal can grow by a further $9bn, which would take the total to about $20bn.
As part of the deal, Akamai issued Anthropic a warrant for 7.7 million shares on an as-converted basis, about 5% of its common stock. The exercise price is $111.33. The warrant takes the form of non-voting convertible Series B preferred stock. About 2% vests with the $11.6bn commitment. The remaining 3% vests only if the expansion happens, at 1% for every $3bn of extra services.
Akamai will supply Anthropic with access to central processing units (CPUs), Bloomberg’s Lynn Doan reported. The contract builds on a $1.8bn deal the two companies signed in May. Akamai shares rose as much as 17% in late trading, to $129.60, according to Bloomberg.
“Anthropic is advancing...
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