Anthropic 与 Akamai 签 116 亿美元七年云协议
Anthropic to pay Akamai $11.6 billion over seven years in cloud deal
Akamai 宣布 Anthropic 将在七年内支付 116 亿美元使用其云基础设施，规模是此前双方 18 亿美元协议的六倍多，也是 Akamai 史上最大合同。该承诺并非无条件，取决于 Akamai 满足交付与服务可用性要求，且双方在特定条件下均可终止协议。Akamai 预计 2027 年下半年开始确认收入，当年为 1.5 亿至 3 亿美元，到 2028 年底年化收入约 17 亿美元；为此 Akamai 预计投入约 55 亿美元建设产能，并为本年资本支出追加约 17 亿美元预购内存等部件。协议还包含认股权证，Anthropic 可按每股 111.33 美元购买可转换为 770 万股普通股的无投票权优先股，最高约占公司流通股 5%，其中约 2% 在首次付款后归属，其余与追加支出挂钩，每追加 30 亿美元解锁约 1%，交易总额最高可增至约 200 亿美元。
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这笔 116 亿美元云协议附带认股权证，读者可借此看清 AI 算力采购中供应商与客户的新型绑定方式。
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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 that Bloomberg reported in May. The commitment isn’t ironclad; according to Akamai’s securities filing , it depends on Akamai meeting certain delivery and service-availability requirements, and either company can end the agreement under certain conditions.
The deal is the largest in Akamai’s history and continues Anthropic’s compute gobbling-streak . It also represents a bet on a less-hyped corner of AI infrastructure: CPUs. Demand for CPUs, the general-purpose chips that handle work like running code and browsing the web, has grown as AI agents take on more tasks, though Akamai didn’t say what Anthropic will use them for.
Akamai won’t see revenue from the deal this year. On an investor call Thursday, executives said they expect $150 million to $300 million in 2027, starting in the second half, with revenue reaching an annual pace of about $1.7 billion by the end of 2028.
To build out the capacity, Akamai expects to spend about $5.5 billion. It is also adding about $1.7 billion to this year’s capital spending to buy components such as memory in advance.
As part of the deal, Akamai issued Anthropic a warrant, essentially 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. About 2% is expected to vest, or become available to Anthropic once it makes its first payment under the deal. The rest is tied to Anthropic spending more. 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.
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 .
The warrant flips the more common pattern in circular AI deals , in which suppliers — chipmakers and cloud providers — invest directly in the AI labs that buy their products. Here, the supplier is instead giving its customer a potential stake, one that grows as Anthropic’s spending with Akamai does. AMD used a similar structure with OpenAI last year, tying warrants to chip-purchase milestones.
Anthropic is no stranger to such arrangements. Amazon , Google , Microsoft, and AMD have all invested or agreed to invest in the company while selling it chips or cloud capacity. CEO Dario Amodei told The New York Times last December that Anthropic does not participate in these deals at the “same scale as some other players.”
Akamai shares rose as much as 17% in after-hours trading on Thursday, The Wall Street Journal reported .