** Cloud firm Akamai Technologies AKAM.O shares down 3.8% to $145.03 post-market as it seeks capital

** Cambridge, Massachusetts co announces private offering of $1.3 bln 0% convertible bonds (CBs) due 2030 and $1.3 bln 0% CBs due 2032

** Co intends to use net offering proceeds to fund accelerated capex requirements of its Cloud Infrastructure Services business, and for general corporate purposes

** It also plans to use some proceeds to pay cost of CBs hedge transactions, and use approx $350 mln to repurchase shares to facilitate hedging transactions by investors in the CBs

** AKAM shares, which have about $22 bln market cap, closed down 0.1% at $150.77, up ~73% YTD

** Stock surged nearly 27% on May 8 after AKAM disclosed $1.8 bln AI cloud deal reportedly with Anthropic

** Avg rating of 26 analysts covering AKAM is "buy"; median PT of $165 up from $115 a month ago, per LSEG data