Akamai Surges 23% on $11.6B Anthropic Cloud Deal

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3▲4 ▼2Impact / 5
Summary · why it matters

Akamai Technologies shares jumped 23% after the company announced a seven-year, $11.6B agreement with Anthropic to provide cloud infrastructure and software supporting CPU workload growth at scale, a deal that could reach $20B if certain conditions are met. As part of the agreement, Akamai granted Anthropic warrants representing about 5% of its common stock, with 2% expected to vest initially and the remaining 3% tied to an additional $9B in cloud service purchases over the seven-year term. Fathom Holdings rose 23% and Neighborhood Intelligence gained 4% after the companies agreed to explore an alternative transaction replacing their previously announced merger agreement, under which NXH would contribute its roughly 38.8% direct and indirect stake in tZERO Group, Medici-related fund assets, and its investment in GrainChain to Fathom, with the contributed digital assets valued at no less than $130M, in return for newly issued Fathom shares and an expected controlling interest in Fathom. Select Water Solutions climbed 6% after agreeing to acquire private water midstream company Pilot Water Solutions for $700M in cash and stock, plus up to $15M in contingent consideration, comprising $600M in cash and $100M in Class A shares, with debt financing commitments from JPMorgan Chase and Bank of America and an expected close in Q4 2026. Scholastic plunged 12% after reporting wider-than-expected FQ1 losses and a 4% Y/Y revenue decline driven by soft educational spending, though it reaffirmed its full-year 2027 outlook for revenue growth of 2% to 4%, adjusted EBITDA of $135M to $145M, and free cash flow of $35M to $40M. Zscaler fell 4% after appointing Ross Tackett as Chief Revenue Officer effective October 1, 2026, succeeding Mike Rich, who is stepping down for personal reasons but will remain as a strategic advisor through December 31, 2026.

Impact on assets 9

Cybersecurity & Digital Trust▼ · 2 stocks
Zscaler Inc
ZS
▼ NegativeCapitalrelevance

Zscaler fell after appointing a new Chief Revenue Officer as its current CRO steps down.

Digital Finance & Tokenization▲ · 2 stocks
Neighborhood Intelligence, Inc. Common Stock
NXH
▲ PositiveCapitalrelevance

Neighborhood Intelligence agreed to explore an alternative transaction replacing its prior merger with Fathom, contributing its ~38.8% tZERO stake and other digital assets valued at no less than $130M for newly issued Fathom shares and an expected controlling interest in Fathom.

Cloud & Digital Infrastructure▲ · 1 stocks
Akamai Technologies Inc
AKAM
▲ PositiveDemandrelevance

Akamai announced a seven-year $11.6B cloud infrastructure deal with Anthropic, potentially reaching $20B.

Real Estate▲ · 1 stocks
Fathom Holdings Inc
FTHM
▲ PositiveCapitalrelevance

Fathom agreed to explore an alternative transaction replacing its prior merger, with NXH contributing assets valued at no less than $130M for newly issued Fathom shares and a controlling interest.

Communication Services▼ · 1 stocks
Scholastic Corporation
SCHL
▼ NegativeCapitalrelevance

Scholastic reported wider-than-expected FQ1 losses and a 4% Y/Y revenue decline on soft educational spending.

Energy▲ · 1 stocks
Financials▲ · 1 stocks

Off-coverage companies 3

AnthropicPrivate± Mixed
relevance

GrainChainPrivate± Mixed
relevance

tZERO Group, Inc.Private± Mixed
relevance

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