⚡ $11.6 billion to buy compute power—5% equity tucked into the bill
Two project plans were signed on September 18, but they weren’t disclosed until after market close on September 24. Anthropic committed to pay Akamai about $11.6 billion over seven years, running CPU tasks on Akamai Cloud’s distributed infrastructure. The earlier deal signed in May between the two parties was $1.8 billion—this one is more than six times that. The agreement may also be expanded by another $9 billion, bringing the potential total to around $20 billion.
The payment structure has changed. Akamai issued Anthropic warrants, allowing it to buy B preferred shares representing up to 5% of the outstanding shares. The exercise price is $111.33, exactly equal to the volume-weighted average price over the 30 trading days before the issuance date. Of this, 2% vests with the $11.6 billion payment; the remaining 3% unlocks only when Anthropic buys an additional $3 billion—i.e., 1% per extra $3 billion. Exercise is cash-only, and the warrants can only be transferred to Anthropic’s own wholly owned subsidiaries. To become common stock, the group would first have to move out of this structure. The customer becomes a shareholder.
The money is fronted by Akamai. The company estimates related capital expenditures of about $5.5 billion, including an additional $1.7 billion in 2026 to lock in key components early, such as memory. Revenue growth comes later: none this year; $150 million to $300 million in January 2027; and around $1.7 billion annualized around 2028.
There’s also a hard clause in the contract. If Anthropic’s direct competitor obtains control of Akamai, Anthropic can terminate the agreement. The buyer built an anti-takeover gate into the contract.
On Thursday’s regular session, Akamai received $110.41, down 6.8%. After-hours, it rose 16.8% to as much as 22% (figures vary by source). On Friday before the open, it surged to 134, then slipped back to around 130—up about 17.7% versus Thursday’s close.
Crypto was rising the same day as well. When I wrote this, six quote sources for BTC ranged from 84,597 to 84,671, up 1.4% to 1.5% over 24 hours. ETH was 2,716 to 2,720, up 2.7% to 2.9%. The AI coin complex was even stronger: TAO at 305.6 (+8.5%), RENDER at 1.96 (+10.5%), FET at 0.2407 (+22.6%). Binance and CoinGecko readings matched.
Watch two things. Whether the $9 billion expansion option gets fully exercised—JPMorgan’s take is “the path of least resistance.” And second, $5.5 billion in advance funding is concentrated on a single customer; how this concentration will be worked through going forward.
$BTC $ETH $TAO
#中本聪国际社区Baoluo币商资本 #AI算力 #Anthropic
Two project plans were signed on September 18, but they weren’t disclosed until after market close on September 24. Anthropic committed to pay Akamai about $11.6 billion over seven years, running CPU tasks on Akamai Cloud’s distributed infrastructure. The earlier deal signed in May between the two parties was $1.8 billion—this one is more than six times that. The agreement may also be expanded by another $9 billion, bringing the potential total to around $20 billion.
The payment structure has changed. Akamai issued Anthropic warrants, allowing it to buy B preferred shares representing up to 5% of the outstanding shares. The exercise price is $111.33, exactly equal to the volume-weighted average price over the 30 trading days before the issuance date. Of this, 2% vests with the $11.6 billion payment; the remaining 3% unlocks only when Anthropic buys an additional $3 billion—i.e., 1% per extra $3 billion. Exercise is cash-only, and the warrants can only be transferred to Anthropic’s own wholly owned subsidiaries. To become common stock, the group would first have to move out of this structure. The customer becomes a shareholder.
The money is fronted by Akamai. The company estimates related capital expenditures of about $5.5 billion, including an additional $1.7 billion in 2026 to lock in key components early, such as memory. Revenue growth comes later: none this year; $150 million to $300 million in January 2027; and around $1.7 billion annualized around 2028.
There’s also a hard clause in the contract. If Anthropic’s direct competitor obtains control of Akamai, Anthropic can terminate the agreement. The buyer built an anti-takeover gate into the contract.
On Thursday’s regular session, Akamai received $110.41, down 6.8%. After-hours, it rose 16.8% to as much as 22% (figures vary by source). On Friday before the open, it surged to 134, then slipped back to around 130—up about 17.7% versus Thursday’s close.
Crypto was rising the same day as well. When I wrote this, six quote sources for BTC ranged from 84,597 to 84,671, up 1.4% to 1.5% over 24 hours. ETH was 2,716 to 2,720, up 2.7% to 2.9%. The AI coin complex was even stronger: TAO at 305.6 (+8.5%), RENDER at 1.96 (+10.5%), FET at 0.2407 (+22.6%). Binance and CoinGecko readings matched.
Watch two things. Whether the $9 billion expansion option gets fully exercised—JPMorgan’s take is “the path of least resistance.” And second, $5.5 billion in advance funding is concentrated on a single customer; how this concentration will be worked through going forward.
$BTC $ETH $TAO
#中本聪国际社区Baoluo币商资本 #AI算力 #Anthropic
