AKAM 与 Anthropic 达成的 116 亿美元交易是一个关键转折点，支撑长期上行空间与营收重新加速；但市场的即时反应弱于盘前表现。
逐段跳播
我们回到《Morning Trade Live》，来关注Akamai Technologies的年度走势图。该股去年5月创下25年多来未曾见过的历史新高，但此后已下跌超过30%。
目前我们上涨7.5%。从今年的进展来看，自年初以来我们仍上涨超过50%。我们上涨约40%。所以，尽管从高点回落，这表现并不差。
We're back with " Morning Trade Live" to focus on the annual chart for "Akamai Technologies". The stock reached record highs last May that it had n't seen in more than 25 years, but has since fallen by more than 30% .
We are currently trading up 7.5 percent . Looking at the year's progress, we are still up by more than 50% since the beginning of the year. We are up by approximately 40%. So, it's not a bad performance despite our retreat from the peaks,
但今天我们关注的是Akamai与Anthropic的新协议。我们现在看到的是Akamai与Anthropic之间的这笔协议。这是一份为期七年的协议，价值116亿美元，为Anthropic提供计算服务。
这一多年承诺将支持Anthropic Services，通过利用Akamai的分布式云AI基础设施和软件，加速应对数据处理单元工作负载的需求。显然，市场将这笔协议视为这家云基础设施公司的胜利。
but today we are looking at Akamai's new deal with Anthropic. We now have this deal between "Akamay" and " Anthropic". It's a seven-year deal. It is valued at $11.6 billion for providing computing services to Anthropic.
This multi-year commitment will support Anthropic Services in accelerating the demands of data processing unit workloads by leveraging Akamai's distributed cloud AI infrastructure and software .
Clearly, the market views this deal as a win for the cloud infrastructure company.
该股在盘前交易中上涨约20%。目前在早盘交易中上涨超过7.5%。他们还表示，这笔协议将包括55亿美元的新资本支出，其中包括购买存储单元，其中16亿美元指定用于2026年。该协议还包括一项选择权，如果还需要更多计算能力，可再扩大90亿美元。
Stocks rose by about 20% in pre- market trading. It is now up by more than 7.5 percent in early trading. They also stated that the deal would include $5.5 billion in new capital expenditures, including the purchase of memory units, with $1.6 billion earmarked for 2026.
The deal also includes an option to expand by an additional $9 billion if further computing capabilities are needed.
作为协议的一部分，Akamai向Anthropic发行了一项股份购买权，赋予其以每股111.33美元的价格购买770万股Akamai普通股（即5%的流通股）的权利。其中部分股份今日到期，其余部分则取决于该协议是否再扩大90亿美元。
As part of the deal, Akamai issued a share purchase right to Anthropic giving it the right to exercise the purchase of 7.7 million shares of Akamai common stock, or 5% of outstanding shares, at a price of $111.33 per share.
Part of those shares are due today, while the remainder depends on the deal being expanded by an additional $9 billion.
作为参考，我们目前的交易价格为118.71美元，呈上升趋势。即使没有额外的90亿美元选择权，这对Akamai来说也是一笔巨大的协议。
For reference, we are currently trading at $118.71 with this upward trend. Even without the additional $9 billion option, this is a huge deal for Akamai .
分析师已经开始发表评论，Guggenheim指出，仅这笔协议带来的年度经常性收入就超过该公司2025年云基础设施服务收入的五倍，占其42亿美元总收入的40%。他们维持“买入”评级。今天他们将目标价从190美元上调至225美元。
Analysts have already begun commenting, with Guggenheim noting that annual recurring revenue from this deal alone is more than five times the company’s cloud infrastructure services revenue in 2025, and 40% of its total revenue of $4.2 billion.
They maintain a " buy" rating. Today they are raising their target price for the stock to $225 from $190.
Evercore也发布了一份新备忘录，称这笔协议对Akamai而言是“历史性的”，并指出这强化了他们的观点，即该公司有望在多年内重新加速收入增长。该公司还强调了这笔协议不含排他性条款的重要性，并表示：“与Anthropic的合作并不妨碍Akamai与其他领先实验室合作，这可能支持人工智能领域随着时间的推移取得进一步进展。”
Evercore将该股评为“跑赢大盘”，并设定目标价为175。
Evercore also issued a new memo describing the deal as "historic" for Akamai, noting that it reinforces their view that the company is poised to re- accelerate revenue growth over multiple years.
The company also highlighted the importance of the deal being free of exclusivity clauses, stating : "The Anthropic partnership does not prevent Akamai from working with other leading laboratories , which could support further gains in artificial intelligence over time."
Evercore rates the stock as "outperforming" and sets a price target of 175.
美国银行也发布了一份乐观的报告。他们将这一消息描述为Akamai的关键转折点。他们还将目标价从175上调至185，同时维持对该股的“买入”评级。
Bank of America also issued an optimistic note. They described this news as a pivotal turning point for Akamai. They also raised their target price from 175 to 185 while maintaining a "buy" rating on the stock .
Sam，我的意思是，市场和分析师界对此的反应非常强烈，支持这对Akamai未来可能意味着什么。是的，你可以清楚地看到这一点反映在该股今天的表现上，涨幅达8%。
Sam, I mean the response to this from the markets and the analyst community has been very strong and in support of what this could mean for Akamai's future. Yes, and you can clearly see that reflected in the stock's performance today with this 8% gain.
你会如何处理这只股票的一笔典型交易？我告诉你，这很有意思，正如Molly所指出的，分析师们似乎确实一致认为该股具有长期上行潜力。
How would you handle a typical trading deal in this stock? Well, I'll tell you that it's interesting, as Molly pointed out, since analysts certainly seem to agree that the stock has long-term upside potential .
我认为，如果你根据我们在开盘前夜看到的情况来看价格走势，你会发现它不到早前的一半。所以，开盘后的反应并不好，但该股在这里仍保持着相当强劲的涨幅。
I think if you look at the price movement based on what we saw during the night before the opening, you will find that it is less than half of what it was earlier. So, the response after the opening wasn't great, but the stock is still holding fairly strong gains here.
我确实相信存在捕捉上行收益的长期机会，但如果我们看到进一步走弱，且该股没有如预期般做出反应，那么在接近底部水平买入的机会就存在。
I truly believe there is a long-term opportunity to capture upward gains, but if we see further weakness and the stock does not respond as expected, there is an opportunity to buy it near the bottom levels.
因此，今天的交易示例涉及10月份。它持续三周。过程涉及买入看涨价差。即买入10月份125至140看涨期权的价差，同时卖出一份110的看跌期权，以支付该交易的成本。所以，你基本上可以在这里以平衡的成本做到这一点。
这使我们能够在未来三周内捕捉上行行情，如果我们看到积极反应，使价格回到24小时前的水平。
Therefore, today's trading example pertains to the month of October. It lasts for three weeks. The process involves buying call spreads. It is a buy-out of the spread for call options between 125 and 140 for October, with a sell-out put option at 110 to finance the cost of that transaction.
So, you can basically do that at a balanced cost here. This allows us to catch an upward move in the next three weeks if we see a positive response that brings the price back to where it was just 24 hours ago.
如果这没有发生，机会就在于在底部水平抢购该股，我认为长期持有它看起来仍是一个不错的选择。但我不确定这一消息是否一定会成为该股突破这一价格区间的短期催化剂。至少到目前为止，反应还不错。
If that doesn't happen, the opportunity lies in snapping up the stock at bottom levels, and I think it still looks like a good option to hold in the long term. But I don't know if this news will necessarily be the short-term catalyst for the stock to break out of this price range. Well, at least it's a good response so far.
这个频道对 $AKAM 的历次判断
Schwab Network 在这只股票上只有这一条判断。