Reportedly Anthropic in talks for Nvidia to anchor $10 billion IPO

September 14, 2026 at 04:09 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Anthropic is reportedly in talks to have Nvidia invest up to $10 billion as an anchor investor in its initial public offering, according to Reuters sources. The AI startup aims to raise up to $100 billion at a valuation near $2 trillion, which would make it the largest IPO on record. Neither company has officially confirmed the negotiations.

Key Facts

Anthropic aims to raise up to $100 billion in its IPO, targeting a valuation near $2 trillion, which would be the largest ever recorded.
Nvidia is considering a commitment of up to $10 billion as an anchor investor, though terms are still being negotiated and could change.
Anthropic's annualized revenue run rate surpassed $65 billion by July 2026, up from $9 billion at the end of 2025.
The IPO is projected to conclude before the U.S. midterm elections in November 2026.
In November 2025, Nvidia pledged up to $10 billion alongside Anthropic's $30 billion commitment for Nvidia-powered Microsoft Azure infrastructure.

IPO Negotiations

Anthropic is reportedly in talks to have Nvidia invest in its landmark stock market listing, according to Reuters sources familiar with the matter. The chipmaker would come on as an anchor investor for Anthropic's initial public offering, with a potential commitment of up to $10 billion. Anthropic aims to raise up to $100 billion, targeting a valuation near $2 trillion, making its IPO the largest ever recorded. The proposed listing is projected to conclude before the U.S. midterm elections in November 2026. Neither company has officially confirmed the negotiations; Anthropic declined to comment and Nvidia did not respond immediately to inquiries.

Strategic Relationship

The potential deal highlights the close relationship between top AI developers and hardware suppliers. Anthropic depends heavily on Nvidia's GPUs to power its Claude models, even as it works to diversify compute providers and establish an in-house chip design team. In November 2025, Nvidia pledged up to $10 billion alongside Anthropic's $30 billion commitment for Nvidia-powered Microsoft Azure infrastructure. Anthropic's rapid growth is driving the monumental valuation target, with its annualized revenue run rate surpassing $65 billion by July 2026, up from $9 billion at the end of 2025.