Akamai Technologies' Anthropic Deal Shows Benefits of Unique Platform
Dow Jones
Sep 25
0858 GMT - Akamai Technologies' $11.6 billion multiyear agreement with Anthropic demonstrates the advantage of the cloud computing company's software, J.P. Morgan analysts write. The deal includes the potential to add another $9 billion in revenue for Akamai, an option the analysts expect to be activated. Akamai's software means data can travel quickly and with minimal lag, the analysts say. Because of Akamai's efficiency, the company can generate an average $22 million per megawatt of power--a level that beats out compute deals with other cloud companies. The analysts raise their price target for Akamai shares to $167. The stock surges 21.5% premarket to $133.90.
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