Anthropic, a company focused on developing advanced artificial intelligence models, has signed a major multi-year agreement with Akamai, a global leader in content delivery networks and cloud services. The deal includes an initial commitment of $11.6 billion, with the potential to expand to $20.6 billion over seven years. As part of the agreement, Akamai will provide infrastructure support for Anthropic's central processing unit (CPU) workloads. Akamai will issue subscription warrants in several stages, offering preference shares with an exercise price of $111.33 per share. The first stage, worth about 2% of Akamai's equity, is linked to the initial $11.6 billion commitment, while three additional stages could be triggered by further orders totaling $3 billion each. Akamai anticipates spending $1.7 billion in cash flow this year to secure essential components, with total capital expenditures expected to reach $5.5 billion. This amount is significantly higher than Akamai's annual revenue, which was $4.2 billion in 2025. The investment reflects Akamai's commitment to supporting Anthropic's growing computational needs, which are central to the development of large-scale AI systems. Anthropic has a track record of securing large infrastructure contracts to support its AI research and development. Earlier this year, the company signed a $45 billion agreement with nScale to obtain 460 megawatts of NVIDIA GPU capacity in Virginia and a $35 billion deal with Lambda in Texas. Additionally, Anthropic announced a $50 billion investment in constructing its own data centers with Fluidstack in New York and Texas. The company has also committed to purchasing around $30 billion in computing resources from Microsoft's Azure cloud platform. Anthropic has also formed a significant partnership with Amazon, planning to order over $100 billion in computing capacity over a decade. Its relationship with Google is equally substantial, with potential business valued at $200 billion. To facilitate Anthropic's use of Google's tensor processing units (TPUs), Google has established a unique financing model inspired by commercial airplane financing. This approach involves Google selling TPUs to Broadcom, which then resells them to a financial entity backed by private debt from firms like Apollo and Blackstone. Anthropic would then lease the equipment from this financial vehicle, allowing Google and Broadcom to avoid large capital expenditures on their balance sheets.