Key highlights:
- Nvidia is considering becoming an anchor investor in Anthropic’s upcoming IPO with a $10 billion investment
The investment could signal confidence in Anthropic’s proposed $2 trillion valuation, attracting other investors
Both companies have major ties with the Claude maker leaning on Nvidia’s chips
Nvidia is reportedly weighing investing as much as $10 billion in Anthropic’s planned IPO, a move that will make the chipmaker an anchor investor in the largest public offering in history. Anthropic is seeking up to $100 billion in the offering at a valuation of around $2 trillion, according to people with knowledge of the discussions.
Nvidia could anchor massive Anthropic IPO
Nvidia’s potential $10 billion commitment would give Anthropic a deep-pocketed strategic backer before the offering reaches the broader public market. Typically, anchor investors commit to purchasing a portion of an IPO early, providing a signal of confidence in the company and its valuation.
For Nvidia, there is the financial upside to becoming an anchor investor in the IPO, with the chip maker’s stake potentially rising alongside Anthropic’s valuation.
However, Reuters reported that the discussions remain private and can change. Meanwhile, neither Nvidia nor Anthropic has publicly confirmed the potential investment.
While a $100 billion raise at a near-$2 trillion valuation would make Anthropic one of the world’s most valuable technology businesses, an exact timeline for the Anthropic IPO is still unclear. Back in June, Anthropic submitted a confidential S-1 form to the SEC, indicating its intention to go public.
Sources say the public S-1 filing and marketing phase are tipped to kick off in late September or mid-October 2026. Anthropic’s chief rival, OpenAI, is also moving towards an IPO after making its confidential S-1 filing to the SEC. However, Sam Altman has recently stated that OpenAI doesn’t plan to IPO in 2026. OpenAI and Anthropic CEOs have urged AI developers to slow down innovation, citing safety concerns.
Nvidia and Anthropic already have major ties
Nvidia’s potential IPO investment comes on top of an existing relationship between both companies. Back in November 2025, Nvidia disclosed that it will invest up to $10 billion in Anthropic as part of a broader partnership that included the Claude maker committing to purchase $30 billion of Microsoft Azure computing capacity powered by Nvidia chips.
Anthropic is also working with Amazon, Google and Broadcom to expand its access to computing resources. The company is seeking additional capacity as demand for Claude has grown, while also developing an internal team focused on custom AI chips to gain more control over hardware costs.
For Nvidia, backing Anthropic may provide another way to benefit from the expansion of frontier AI beyond direct chip sales. Anthropic remains heavily dependent on Nvidia GPUs even as it diversifies its computing suppliers.
Amid the frantic race for compute, Anthropic has seen its valuation climb. The company raised $65 billion in May at a post-money valuation of $965 billion.
Its annualized revenue run rate had climbed above $65 billion by the end of July, compared with about $9 billion at the end of 2025. Reuters reported that the potential $2 trillion valuation also depends on Anthropic’s projections for around $190 billion to $200 billion in revenue in 2028.
Source:: Nvidia Mulls $10B Investment in Anthropic’s Record-Breaking IPO