AI developer Anthropic has signed a seven-year, $11.6 billion hashrate contract with Akamai, marking the largest order in Akamai's history. Under the agreement, Akamai will provide Anthropic with central processing unit (CPU) hashrate to support its growing AI service demands. As part of the deal, Akamai issued warrants to Anthropic, allowing it to purchase Series B shares convertible into common stock, a move that has drawn Wall Street's attention to "circular AI deals" in the tech industry. Akamai expects capital expenditures related to this agreement to total approximately $5.5 billion and anticipates revenue from Anthropic's business to reach $150 million to $300 million next year, with an annual run rate of approximately $1.7 billion by 2028.