Internet Services & Infrastructure
Case studies in internet services & infrastructure.
Akamai: Build for Anthropic—or Preserve Room to Maneuver?
On September 24, 2026, Akamai Technologies announced that Anthropic had committed to purchase $11.6 billion of cloud services over seven years. The agreement supports Anthropic's growing CPU workload needs on Akamai's distributed cloud infrastructure. Read case
GoDaddy — Where Should Airo Sit?
GoDaddy's Airo product was expanding from AI-assisted website creation into a broader set of tools for small businesses. On July 30, 2026, the company reported a $50 million annualized bookings run rate for Airo, five times the $10 million figure it had reported one quarter earlier. Read case
Snowflake: Funding the Next Layer of the Data Platform
On September 29, Snowflake priced $3.75 billion of zero-coupon convertible senior notes, split between notes due in 2029 and 2031. The company estimated net proceeds of $3.70 billion and expected the transaction to close on October 1, two days after the information cutoff for this case. Read case
VeriSign: Investing Through the .com Price Window
VeriSign operates the .com and .net generic top-level domains (TLDs). Its registry systems maintain the authoritative registration database and support domain-name resolution. Registrars sell registrations and renewals to customers; VeriSign charges registrars registry wholesale fees. Read case