As competition in the artificial intelligence industry continues to intensify, AI start-up Anthropic has entered into a major $1.8 billion computing agreement with Akamai Technologies to support the growing demand for its AI software.
According to a report by a financial news platform, the deal is part of Anthropic’s broader push to expand its computing capacity as usage of its AI tools increases rapidly.
The announcement had an immediate impact on the market, with Akamai Technologies’ shares jumping by 25% on Thursday after the company revealed a long-term cloud agreement with an unnamed frontier model provider in its earnings report.
The momentum continued on Friday, as Akamai’s stock climbed around 28% in regular trading to reach $149.05.
The cloud and cybersecurity company has forecast its second-quarter revenue between $1.08 billion and $1.10 billion. The projection came slightly below analyst expectations of $1.10 billion, based on data compiled by LSEG.
Despite the lower-than-expected revenue outlook, Akamai said it remains confident about securing the components required for AI development, even as prices for critical hardware and infrastructure continue to rise.
Earlier this week, Anthropic also announced a separate agreement to use computing resources from SpaceX, the aerospace company led by Elon Musk. The move marks a notable shift in relations, considering Musk had previously been critical of the company.
The latest partnerships are expected to strengthen Anthropic’s position in the highly competitive AI industry as the company works to scale its infrastructure and meet increasing demand for advanced AI solutions.
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