Akamai, Anthropic sign $11.6 billion cloud services deal

Anthropic has signed an $11.6 billion cloud services agreement with Akamai Technologies , as the AI lab seeks additional computing capacity to support its growing workloads.

The seven-year contract could expand by an additional $9 billion, bringing the potential total commitment to about $20 billion. Akamai shares jumped 15% in extended trading on Thursday.

Akamai has also issued Anthropic a warrant that could give it up to 5% of the company's outstanding common stock, with about 2% expected to vest under the initial $11.6 billion commitment.