Akamai Technologies, Inc. (AKAM) Earnings Call Transcripts
Akamai Technologies, Inc.'s Latest Earnings Call - September 24, 2026
In the third quarter of fiscal year 2026, Akamai Technologies, Inc. announced a historic $11.6 billion contract with Anthropic, marking the largest deal in the company's history. This contract is set to support Anthropic's CPU workload demands over a seven-year period, significantly boosting Akamai's Cloud Infrastructure Services (CIS) business. Management provided guidance indicating that while no revenue will be recognized in 2026, they expect to generate between $150 million and $300 million in 2027, ramping up to an annualized run rate of approximately $1.7 billion by the end of 2028.
Reported metrics
| Metric | Value |
|---|---|
| Contract Value | $11.6B (positive) |
| Expected Revenue 2027 | $150M - $300M (positive) |
| Annualized Revenue Run Rate | $1.7B (positive) |
| Capital Expenditures | $5.5B (neutral) |
| Potential Additional Revenue | $9B (positive) |
| Cash Position | $4.6B (neutral) |
Guidance from management
Management expects revenue from the Anthropic contract to begin in the second half of 2027, ramping to an annualized run rate of approximately $1.7 billion by the end of 2028. They anticipate capital expenditures of approximately $5.5 billion over the next two years to support this commitment.
What management said
Yes. So this particular deal, the one we announced today, is all CPU. The 14.4, which is a mix of customers and what we've talked about is our considered, what we consider our large multiyear revenue contracts, that's a mix. That's got some CPU, that's got some GPU in there. So it's a mix of everything.
Yes. So the answer would be the next $9 billion, we don't know what that's going to be yet. That would be additional CapEx. And so once we sign those, those would obviously be large enough that we would give you some color in terms of what we were doing along with the CapEx and expected revenue. As far as ROIC, we don't break that out, but I think I've given you guys plenty of information to do math not only on this ...
What analysts pressed on
Analysts raised questions about the profitability metrics associated with the new contract, particularly regarding the expected gross margins and the implications of the capital expenditures required. There were also inquiries about the potential dilution from the warrants issued to Anthropic.
Main topics on the call
- Historic Contract with Anthropic — Akamai signed a monumental $11.6 billion, 7-year contract with Anthropic to support their CPU workload demands. CEO Tom Leighton stated, "We are thrilled they chose Akamai's capabilities for building and operating AI inf...
- Revenue Guidance and Ramp-Up — Management expects revenue from the Anthropic contract to begin in the second half of 2027, with an estimated $150 million to $300 million for the full year. CFO Ed McGowan noted, "Revenue will hold steady for the remain...
- Capital Expenditures — Akamai plans to invest approximately $5.5 billion in capital expenditures over the next two years to support the new contract. McGowan highlighted, "We expect CapEx to be approximately $3.1 billion to support this contra...
- Potential for Additional Revenue — The contract includes an option for an additional $9 billion in revenue commitments, contingent on future business opportunities. McGowan explained, "That's just purely looking at additional opportunities over the life o...
Read the full Akamai Technologies, Inc. transcript (September 24, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Akamai Technologies, Inc.
Akamai Technologies, Inc. (AKAM) is a publicly listed company in the IT Services industry, within the Information Technology sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 77 calls on record spanning February 11, 2020 to September 24, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 77 Akamai Technologies, Inc. earnings call transcripts on record, spanning February 11, 2020 to September 24, 2026. Based on this history, Akamai Technologies, Inc. reports quarterly. The most recent call on file is dated September 24, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- AKAM
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Information Technology
- Industry
- IT Services
- Calls on record
- 77
- First call
- February 11, 2020
- Most recent
- September 24, 2026
- Reporting cadence
- quarterly