Dow Rises 478 Points Under Rate Pressure: Stock Market Today

MGM Resorts may bid for People Inc after Barry Diller's company rescinded its $18B offer to acquire MGM. People's shares rose 10%, while MGM's fell 15%. Analysts remain bullish on MGM, citing a discount in its enterprise value and maintaining a 'Buy' rating with a $55 price target.

Akamai Technologies (AKAM) shares rose after announcing a deal with Anthropic to supply $11.6B in cloud infrastructure over seven years, with a potential $20B total. Anthropic received a warrant to buy 5% of AkAM's stock. The deal supports Anthropic's CPU workload demands, marking a shift in AI computing needs.

Akamai Technologies (AKAM) announced a $11.6B deal with Anthropic, expandable to $20B, over seven years. The company expects 2027 earnings of $150M-$300M. The deal may reshape Akamai's revenue mix and capacity planning, focusing on AI infrastructure.

Anthropic will spend $11.6B over seven years on Akamai's cloud infrastructure, according to Akamai. The deal, contingent on meeting service requirements, is the largest in Akamai's history. Akamai expects $150M-$300M in 2027, growing to $1.7B annually by late 2028. Akamai will invest $5.5B to expand capacity and issued Anthropic a warrant for up to 5% of its stock.

Akamai Technologies signed a $11.6 billion deal to provide computing capacity to Anthropic over seven years. Shares rose over 20% in after-hours trading. Anthropic may add $9 billion, expanding the deal to $20 billion, and has an option to acquire up to 5% of Akamai's shares. Akamai's CEO cited its large-scale AI infrastructure capabilities as the reason for the partnership.

Akamai has signed a 7-year deal with Anthropic for $11.6B in cloud services, potentially expanding to $20B. The deal requires $5.5B in upfront capital spending. Revenue recognition is expected from 2027, with a run rate of $1.7B/year. Akamai issued a warrant for up to 5% of its stock, vesting based on expansion. The deal does not change 2026 revenue guidance.