A cloud computing stock is soaring more than 22%. Here’s what’s driving the rally

Mihaela Păun

Akamai's stock jumped in early trading Friday after it announced a $1.8 billion deal with an AI company and posted first-quarter earnings that were in line with estimates. The stock was last up 22.3% in premarket trading, and shares are up 37% over the past 12 months. A "leading frontier model provider" has committed to $1.8 billion over seven years for cloud infrastructure services, Akamai's CEO Tom Leighton said in the press release Thursday. He did not name the provider. The American