What Happened?
Shares of cloud technology company Akamai Technologies (NASDAQ:AKAM) jumped 15.1% in the pre-market session after the company announced a seven-year agreement with Anthropic featuring $11.6 billion in contractual commitments to provide cloud computing capacity.
In a regulatory filing with the Securities and Exchange Commission, Akamai disclosed that it entered into project plans under an existing Master Services Agreement, under which Anthropic committed to pay approximately $11.6 billion over seven-year initial terms for dedicated cloud computing capacity and managed support services.
According to a company announcement published via GlobeNewswire, the partnership is designed to support Anthropic's central processing unit workloads using Akamai Cloud. The announcement stated that the agreement includes potential expansion reaching up to approximately $20 billion. Additionally, Akamai granted Anthropic warrants for up to approximately 5% of its common stock.
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What Is The Market Telling Us
Akamai’s shares are very volatile and have had 25 moves greater than 5% over the last year. But moves this big are rare even for Akamai and indicate this news significantly impacted the market’s perception of the business.
The previous big move we wrote about was 4 days ago when the stock gained 11.4% on the news that falling Treasury yields eased pressure on software stocks as signs of cooler U.S.–China tensions lifted risk appetite.
Akamai is up 43.3% since the beginning of the year, but at $121.96 per share, it is still trading 24.3% below its 52-week high of $161.14 from May 2026. Investors who bought $1,000 worth of Akamai’s shares 5 years ago would now be looking at an investment worth $1,119.
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