Akamai Technologies stock weighs USD 11.6 billion cloud deal

Published on 09/30/2026 at 15:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Akamai Technologies stock was trading at EUR 95.64 at Lang & Schwarz on September 30, 2026, versus EUR 95.55 previously. Q2 revenue reached USD 1.10 billion and adjusted EPS USD 1.59.

Rechenzentrum mit LEDs – Akamai Technologies Infrastruktur — Akamai Technologies Inc. US00971T1016 photorealistic data center server rows blinking LEDs blue light, Illustration mit AI erstellt.

Akamai Technologies (ISIN US00971T1016) was trading at EUR 95.64 at Lang & Schwarz on September 30, 2026, at 3:03 p.m. CEST, plus 0.09 percent versus the prior close of EUR 95.55 on September 29, 2026. The central growth question is whether a major cloud contract can accelerate Akamai's shift beyond content delivery and cybersecurity.

Anthropic deal expands cloud ambition

Akamai announced on September 24, 2026, a USD 11.6 billion contractual commitment with Anthropic over seven years. The agreement supports Anthropic's CPU workload growth through Akamai Cloud's distributed infrastructure and software, while the relationship can expand by up to an additional USD 9.0 billion.

The financial trade-off is visible in the structure. Akamai expects USD 5.5 billion in capital expenditures tied to the commitment and a USD 1.7 billion increase in 2026 capital expenditures, while a warrant could represent up to 5.00 percent of common stock outstanding. That creates a measurable execution and dilution risk alongside the long-term cloud opportunity.

Q2 figures show measured growth

Akamai's Q2/2026 revenue was USD 1.10 billion, up 5.4 percent from the prior-year quarter, according to MarketBeat on September 26, 2026. Adjusted EPS was USD 1.59 versus USD 1.57 consensus, but prior-year EPS was USD 1.73, leaving the cloud expansion to prove that higher infrastructure spending can produce stronger earnings growth.

Analyst targets move in opposite directions

MarketBeat reported on September 25, 2026, that JPMorgan raised its price target from USD 158.00 to USD 167.00 while retaining a neutral rating. The same report put the consensus target at USD 144.43, showing that the Anthropic agreement has not produced a uniform view of valuation.

MarketBeat also reported on September 25, 2026, that Piper Sandler maintained an Overweight rating and lifted its target from USD 125.00 to USD 158.00. The split between neutral and Overweight views centers on whether the contract's future revenue outweighs its capital requirements and potential dilution.

Stock remains below yearly high

Akamai Technologies stock was trading at EUR 95.64 at Lang & Schwarz on September 30, 2026, at 3:03 p.m. CEST, versus the Lang & Schwarz prior close of EUR 95.55 on September 29, 2026. The primary Nasdaq listing had a 52-week range of USD 70.82 to USD 165.45 and a market capitalization of USD 15.8 billion as of September 29, 2026.