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Akamai AI Deal Sparks Stock Surge
25 Sep
Summary
- Akamai secures $11.6 billion deal with AI firm Anthropic.
- Costco surpasses expectations in its latest earnings report.
- Dow Jones eyes losses while S&P 500 and Nasdaq aim for gains.
Stock futures are trending upward ahead of the final trading session of the week, with the Dow Jones Industrial Average aiming to avoid a fourth consecutive week of losses. The S&P 500 and Nasdaq are on track for their second straight week of gains, buoyed by a tech rally. Treasury yields and oil futures are declining after a volatile week.
Akamai's stock is surging, up nearly 20% in premarket trading, due to a significant seven-year deal with AI company Anthropic. This agreement is valued at $11.6 billion and includes a warrant for Anthropic to acquire approximately 5% of Akamai's shares. Separately, Costco Wholesale announced its fiscal fourth-quarter earnings exceeded estimates, with sales reaching $95.72 billion and earnings per share at $6.75.
