Nvidia in talks to invest up to $10 billion in Anthropic IPO

Nvidia in talks to invest up to $10 billion in Anthropic IPO
Nvidia weighs up to $10B investment in Anthropic IPO

​Nvidia is in talks to participate in Anthropic's IPO as an anchor investor and is considering an investment of up to $10 billion. The Claude developer is seeking to raise as much as $100 billion at a potential valuation of around $2 trillion.

According to Reuters, the terms are still discussed and could change. If the plans go ahead, Anthropic's offering could become the largest IPO in history.

Nvidia's participation would give Anthropic a major strategic investor before the offering is marketed more broadly. At the same time, the deal would deepen ties between the AI chipmaker and one of the largest consumers of computing infrastructure.

Anthropic could raise a record $100 billion

Anchor investors commit in advance to buying a certain portion of shares in an IPO. For particularly large offerings, such commitments can demonstrate demand for the shares and boost confidence among other investors.

Nvidia already has ties to Anthropic through investments and computing infrastructure.

In November 2025, the chipmaker announced plans to invest up to $10 billion in the startup as part of a broader partnership. The agreement included Anthropic's commitment to purchase $30 billion of Microsoft Azure computing capacity powered by Nvidia accelerators.

Anthropic's investors also include Amazon and Google, which are also major suppliers of computing resources. In April, the company committed to spending more than $100 billion on AWS infrastructure over 10 years and using more than 1 million Trainium2 chips.

At the same time, Anthropic is seeking to diversify its hardware infrastructure. The company has agreed with Google and Broadcom to add several gigawatts of TPU-based capacity and is building its own team to develop specialized chips for Claude.

The IPO is expected to be completed before the U.S. midterm elections in November. Anthropic raised $65 billion in May at a post-money valuation of $965 billion, while its annualized revenue run rate exceeded $65 billion by the end of July, up from around $9 billion at the end of 2025.

Nvidia becomes one of the largest AI investors

A potential $10 billion investment in Anthropic would continue Nvidia's rapid expansion of its investment activity. By the end of July, the value of the company's equity investment portfolio had reached $99 billion—more than 10 times its level a year earlier.

Nvidia invests in AI model developers, cloud infrastructure, networking technology, and semiconductor companies. These investments both expand the company's influence across the AI industry and support an ecosystem of major customers for its accelerators.

Earlier, we reported that Anthropic walked away from a potential $6 billion acquisition of AI startup Decart. The companies discussed a deal, but the talks did not result in an acquisition.

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