An artificial intelligence company has struck a massive cloud computing partnership worth $1.8 billion with technology firm Akamai Technologies, according to a Bloomberg News report released Friday that cited sources with knowledge of the agreement.
The deal between AI startup Anthropic and Akamai is designed to handle the rapidly increasing demand for Anthropic’s artificial intelligence software services.
Wall Street responded enthusiastically to news of the partnership. Akamai’s stock price jumped 25% on Thursday following the company’s earnings announcement, which revealed a major long-term cloud services contract with an unnamed AI provider. By Friday’s trading session, shares had climbed approximately 28% to reach $149.05.
Representatives from both Akamai and Anthropic refused to provide comments when contacted about the reported deal.
The cloud computing and cybersecurity company projected its second-quarter revenue will fall between $1.08 billion and $1.10 billion, which aligns closely with Wall Street analysts’ expectations of $1.10 billion, based on data from LSEG.
Akamai CEO Tom Leighton explained to Reuters that his company is well-positioned to obtain necessary computing components, including CPUs and GPUs, despite rising costs for these essential parts.
This partnership announcement comes just days after Anthropic revealed another significant computing agreement. On Wednesday, the AI company announced it would utilize computing infrastructure from Elon Musk’s SpaceX operation, representing a notable reconciliation with Musk, who had previously criticized the company. This SpaceX deal provides advantages for both organizations as they compete in the intensely competitive artificial intelligence marketplace.
