product · May 22, 2026

Akamai Prices $3 Billion Upsized Convertible Senior Notes Offering

Akamai Technologies priced its private offering of $1.5 billion in 0% convertible senior notes due 2030 and $1.5 billion due 2032 on May 19, 2026. The notes feature initial conversion prices of approximately $201.41 and $190.81 per share respectively, representing premiums of 42.5% and 35.0% to the May 19 closing price of $141.34. Akamai granted purchasers an option for up to an additional $500 million across both series. Net proceeds are estimated at approximately $2.958 billion. Akamai plans to use the funds primarily for accelerated capital expenditures in its Cloud Infrastructure Services segment, including global footprint expansion, following the $1.8 billion Anthropic cloud agreement.