Piper Sandler Adjusts PT on Akamai Technologies to $158 From $125, Keeps Overweight Rating

European AI-linked stocks rose after Anthropic's $11.6B computing deal with Akamai. ASML, Infineon, STMicroelectronics, and others gained. The deal includes a warrant for 7.7M shares at $111.33 each, with Akamai investing $5.5B in capital expenditures.

Akamai Technologies (AKAM) surged 21.3% premarket after a $11.6B cloud services deal with Anthropic. Comcast (CMCSA) fell 1.6% on a KeyBanc downgrade. Twilio (TWLO) dropped 3.7% after an HSBC downgrade. Scholastic (SCHL) tumbled 11% on missed earnings. Select Water (SWSI) rose 5.5% on a $700M acquisition. Prime Medicine (PRMN) climbed 11.7% on FDA trial clearance.

Akamai (AKAM) surged 21% after an $11.6B deal with Anthropic and a power contract. Scholastic (SCHL) fell 10% due to a wider Q1 loss. Synopsys (SNPS) rose 3% following an HSBC upgrade. Nike (NKE) dropped 2% after a BofA downgrade. Costco (COST) dipped slightly despite beating Q4 estimates.

Akamai Technologies (AKAM) announced an $11.6 billion, seven-year deal with Anthropic to support AI workloads, with potential expansion to $20 billion. Shares rose 26% in after-hours trading. The agreement includes a warrant for Anthropic to buy up to 5% of Akamai's common stock. Akamai expects $5.5 billion in capital expenditures, with no 2026 revenue guidance impact.

Evercore ISI reiterated an Outperform rating and $175 price target on Akamai (AKAM) after its $11.6B cloud deal with Anthropic, with potential expansion to $20B. Management expects $5.5B in capex. Analysts adjusted price targets, with Guggenheim at $225 and UBS at $148. Akamai shares rose 46% over the past year, though some analysts suggest overvaluation.

Akamai Technologies (AKAM) shares rose 23% after announcing an $11.6B, seven-year agreement. Investors also considered Strait of Hormuz reopening talks. NXH was another mover.