Anthropic Could Land Nvidia as $10 Billion IPO Investor

Anthropic is reportedly in talks to have Nvidia invest in its landmark stock market listing.

The chipmaker would come on as an anchor investor for Anthropic’s initial public offering (IPO), Reuters reported Friday (Sept. 11), citing sources familiar with the matter.

Those sources said Anthropic aims to raise up to $100 billion, targeting a valuation near $2 trillion, making its IPO the largest ever recorded.

As part of the proposed listing, Nvidia is considering a commitment of up to $10 billion to serve as a key anchor investor in the artificial intelligence startup, although terms are still being negotiated and could change, the report said.

Reuters noted that bringing on Nvidia as a key strategic backer would provide a substantial vote of confidence for Anthropic’s public market listing, which is projected to conclude before the U.S. midterm elections in November. It comes after another blockbuster IPO, SpaceX’s $1.7 trillion listing in June.

The report added that 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.

The two companies forged ties in November, when 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, the report said. The startup’s annualized revenue run rate surged past $65 billion by July 2026, up from $9 billion at the end of 2025.

Neither company has officially confirmed the negotiations, with Anthropic declining to comment when reached by Reuters and Nvidia not responding immediately to inquiries. PYMNTS has contacted both companies for comment but has not yet gotten a reply.