Akamai Announces $1.8 Billion AI Cloud Infrastructure Deal, Driving 25% Pre-Market Stock Rally
Akamai Technologies (ticker: AKAM) announced a $1.8 billion cloud infrastructure deal with an unnamed 'leading frontier model provider,' driving a 25% pre-market stock surge. The cybersecurity and cloud computing firm also reported strong Q1 results, including a 40% increase in cloud infrastructure services revenue to $95 million and a 11% rise in security revenue to $590 million.
Tickers: $AKAM
Topics: AI infrastructure cloud computing earnings M&A stock movement