Akamai lands $600M cloud deal, Buzz HPC secures $350M GPU contract

Two major cloud infrastructure providers have announced significant contract wins this month, underscoring the sustained demand for AI-ready computing capacity across North America. Akamai Technologies and Hive Digital Technologies' Buzz HPC both disclosed new multi-year agreements with enterprise customers, signaling continued momentum in the hyperscale and AI cloud segments.

Akamai revealed during its Q2 2026 earnings call that it had secured a four-year commitment worth $600 million from an unnamed US-based technology company. The customer will use Akamai's cloud infrastructure services to power its robotics development efforts. CEO Frank Thomson Leighton told analysts that the deal brings the total volume of multiyear commitments signed this year for cloud infrastructure services to more than $2.8 billion. He added that, given these commitments and a strong pipeline, Akamai now expects overall revenue growth to accelerate into the low teens in 2027.

While few additional details were provided during the call, CFO Edward McGowan noted that the company's GPU capacity is fully sold out. He indicated the new contract will require an additional $500 million in capital expenditure to "replenish and expand our GPU capacity." Akamai's total revenue for the quarter reached $1.1 billion, up 5 percent year-over-year, with the cloud infrastructure services segment contributing $99.3 million, a 39 percent increase compared to the same period last year.

Separately, Hive Digital Technologies' Buzz HPC announced it has signed a five-year GPU cloud services agreement with an enterprise customer, valued at $350 million over the contract term. The deal brings Buzz HPC's total annualized revenue to $180 million, comprising approximately $35 million in active realized ARR today and roughly $145 million in contracted ARR expected to come online through Q4 2026. The customer, which has not been named, will lease a dedicated AI infrastructure cluster of 2,016 Nvidia Blackwell Ultra GPUs in Nvidia GB300 NVL72 systems, to be housed at the Bell AI Fabric data center in Merritt, British Columbia, Canada. The cluster is expected to be delivered and deployed by the end of this year, and will run on Vast Data's operating system.

Craig Tavares, president and COO of Buzz High Performance Computing, emphasized the significance of the deal. "This contract demonstrates our ability to consistently execute on large-scale AI infrastructure deployments while securing long-term, high-quality customers. We're rapidly establishing Buzz as one of Canada's leading sovereign AI cloud providers, combining best-in-class Nvidia infrastructure with strategic partners such as Bell and Vast Data to deliver enterprise-grade AI compute at global scale," he said. Tavares added that the company is "building far more than GPU clusters" and is helping build a sustainable AI future, strengthening a world-class ecosystem of partners to give Canadian and global organizations access to high-performance infrastructure built for the AI era.

Buzz HPC has an ongoing relationship with Bell Canada, using capacity at Bell's data centers across the country. The company secured 6.5MW at the Merritt facility in March of this year. The two deals reflect a broader trend in which cloud providers are locking in long-term, high-value contracts to secure AI compute capacity, while also making substantial capital investments to keep pace with GPU demand and infrastructure expansion.