Apple's content delivery network is now live in the US and Europe, reports analyst Dan Rayburn of Frost & Sullivan (Via ArsTechnica). The CDN may deliver multiple terabits of data per second, allowing Apple to more efficiently to distribute software updates and other content to its customers.

Apple's CDN apparently went live recently as current trace routes provided by Rayburn show that OS X downloads are piped directly from Apple to internet service providers, such as Comcast. Apple is paying for this direct route in order to avoid congestion and other issues during times of high volume traffic, such as when a new version of OS X is released. Other providers who possibly have negotiated these interconnect deals with Apple are rumored to include AT&T and Verizon, both of which have similar contracts with Netflix.
Apple has not publicly commented on its CDN plans, but the company is expected to use the network to deliver iOS and OS X downloads, while gradually transitioning its iTunes and App Store away from Akamai and other Level 3 CDNs.
"It’s too early to know how much traffic will come over and when, but Apple’s already started using their own CDN much faster than I expected. The pace of their build out and amount of money they are spending on infrastructure is incredible. Based on my calculations, Apple has already put in place multiple terabits per second of capacity and by the end of this year, will have invested well more than $100M in their CDN build out."
Apple allegedly has been working on building this content delivery network for several years, with a rapid acceleration in the past year to bring the service online. The rollout of this network brings content delivery under Apple's direct control, helping to ensure its customers can access data reliably and quickly.
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