Anthropic's $11.6 Billion Akamai Deal Is the CPU Turn, Priced With Equity
The most consequential compute contract of the week was not signed by a hyperscaler. On September 18, 2026, Akamai Technologies filed an 8-K disclosing Project Plans 2 and 3 under its May 5 Master Services Agreement with Anthropic, under which Anthropic has committed to pay approximately $11.6 billion over seven years for dedicated cloud capacity. Akamai announced the deal publicly on September 24 and the stock jumped more than 20 percent that day, per SiliconANGLE, closing at $113.94 on September 25, up 49.8 percent over twelve months per Yahoo Finance data. The filing is the primary document here, and it says three things the press release does not: the revenue is front-loaded with a capex…
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