Akamai (AKAM) Stock Surges 22% Following $1.8B AI Deal
Published on Β· Source: cnbc.com
AI Summary
Summarized by AI from the source belowAkamai Technologies (AKAM) saw its stock increase by 22.3% in premarket trading after announcing a $1.8 billion agreement with an unnamed AI company. The firm's first-quarter revenue rose by 6% to over $1 billion, driven by a 40% increase in cloud infrastructure services revenue, totaling $95 million. Akamai expects second-quarter revenue between $1.08 billion and $1.1 billion, with adjusted net income per share estimated between $1.45 and $1.65. The company has been rapidly scaling its cloud infrastructure to meet rising demand for AI workloads, positioning itself as a key player in the market.
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About Akamai Technologies (AKAM)
Akamai operates a content-delivery network and cloud-security services.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
Earlier AKAM news
- Cloudflare (NET) and Akamai (AKAM) Show Pre-Market Movement
- Akamai (AKAM) Stock Reaches 52-Week High of 121.13 USD
- Akamai (AKAM) Stock Rating Cut After 33% Rally in Valuation
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