Nvidia wants to pour up to $10 billion into Anthropic's record-breaking IPO
Nvidia is reportedly in talks to invest up to $10 billion in Anthropic's IPO, which targets a $2 trillion valuation, making it history's largest.
Reuters reports Nvidia is negotiating to become an anchor investor with up to $10 billion in Anthropic's planned IPO, locking in shares before they hit the open market. Anthropic aims to raise up to $100 billion at a roughly $2 trillion valuation, with the IPO expected to complete before the US midterms in November. Anthropic's revenue reportedly grew from about $9 billion at the end of 2025 to over $65 billion by July 2026. The company already runs on Nvidia GPUs and committed in 2025 to purchasing $30 billion in Azure compute packed with Nvidia chips.
- Nvidia would act as anchor investor, securing shares before the IPO reaches the open market.
- Anthropic targets raising up to $100 billion at a roughly $2 trillion valuation, the largest IPO ever.
- Revenue reportedly climbed from about $9 billion in late 2025 to over $65 billion by July 2026.
- Nvidia backs some $300 billion in guarantees helping data centers secure financing, much of it returning via chip orders.
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Sep 12, 2026
Nvidia is in talks to invest up to $10 billion in Anthropic's planned IPO, Reuters reports. The company behind Claude wants to raise up to $100 billion and land a valuation of around $2 trillion. That would make it the largest IPO in history. Nvidia would come in as an anchor investor, locking in shares before the stock hits the open market.
The two companies are already closely linked. Anthropic runs on Nvidia GPUs and committed in 2025 to buying $30 billion in Azure compute packed with Nvidia chips. Revenue went from around $9 billion at the end of 2025 to over $65 billion by July 2026. The IPO is expected to wrap up before the US midterms in November.
Nvidia is still playing central bank for the AI industry, investing in customers like Anthropic and OpenAI while backing some $300 billion in guarantees that help data centers secure financing. Most of that money circles right back to Nvidia in chip orders.
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