Global Finance News
25 Sep 2026, 18:24
Akamai Jumps 6% After $11.6 Billion Anthropic Deal, Analysts Raise Price Targets
Akamai Technologies (NASDAQ: AKAM) shares rose about 6% after the company announced a seven-year, $11.6 billion cloud infrastructure agreement with Anthropic, while several Wall Street firms raised their price targets on the stock.
Under the agreement, Anthropic will use Akamai Cloud’s distributed infrastructure and software to support expanding CPU workloads. The relationship could grow by an additional $9 billion, bringing the total potential commitment to roughly $20 billion. Akamai said the initial contract is expected to require about $5.5 billion in related capital expenditures.
The announcement prompted a series of analyst actions. Guggenheim raised its price target to $225 from $190 and maintained a Buy rating, Piper Sandler lifted its target to $158 from $125 while reiterating Overweight, and UBS increased its target to $148 from $143 while keeping a Neutral rating. The more constructive targets likely reflect the size and long duration of the Anthropic commitment, stronger visibility into Akamai’s cloud revenue growth and evidence that its infrastructure is gaining traction for large-scale AI workloads. At the same time, the substantial capital spending required to support the contract remains an important consideration.
Akamai also issued Anthropic a warrant representing up to approximately 5% of the company’s common stock on an as-converted basis, with vesting linked to the expansion of the commercial relationship. The company said the agreement will not affect its 2026 revenue guidance, although 2026 capital expenditures are expected to increase by about $1.7 billion to secure critical infrastructure components.
Akamai Technologies (NASDAQ: AKAM) shares rose about 6% after the company announced a seven-year, $11.6 billion cloud infrastructure agreement with Anthropic, while several Wall Street firms raised their price targets on the stock.
Under the agreement, Anthropic will use Akamai Cloud’s distributed infrastructure and software to support expanding CPU workloads. The relationship could grow by an additional $9 billion, bringing the total potential commitment to roughly $20 billion. Akamai said the initial contract is expected to require about $5.5 billion in related capital expenditures.
The announcement prompted a series of analyst actions. Guggenheim raised its price target to $225 from $190 and maintained a Buy rating, Piper Sandler lifted its target to $158 from $125 while reiterating Overweight, and UBS increased its target to $148 from $143 while keeping a Neutral rating. The more constructive targets likely reflect the size and long duration of the Anthropic commitment, stronger visibility into Akamai’s cloud revenue growth and evidence that its infrastructure is gaining traction for large-scale AI workloads. At the same time, the substantial capital spending required to support the contract remains an important consideration.
Akamai also issued Anthropic a warrant representing up to approximately 5% of the company’s common stock on an as-converted basis, with vesting linked to the expansion of the commercial relationship. The company said the agreement will not affect its 2026 revenue guidance, although 2026 capital expenditures are expected to increase by about $1.7 billion to secure critical infrastructure components.
