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Anthropic has agreed to pay Akamai $11.6 billion over seven years for cloud infrastructure, a bet on CPU-based computing that could grow to roughly $20 billion. In an unusual arrangement, Akamai will give Anthropic a potential equity stake of up to 5% that grows in proportion to Anthropic's spending. The deal represents one of the largest cloud-infrastructure commitments in the AI industry to date, reflecting the enormous capital AI labs are pouring into computing capacity to train and run frontier models.