Nvidia investment talks could see the chipmaker commit up to $10 billion to Anthropic as the AI company prepares for a potential IPO that could become the largest in history, Reuters reported, citing two people familiar with the matter.
The AI firm aims to raise to $100 billion in its potential IPO, which would make the company worth about $2 trillion. The AI company is considering investing as an anchor investor in the potential IPO.
Any Nvidia investment will see one of the largest technology firms in the world entering Anthropic’s mammoth public listing. Any such move would also consolidate the pre-existing ties between Nvidia and Anthropic, since the latter is heavily dependent on Nvidia’s hardware for its Claude AI.
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Nvidia Investment Could Support Anthropic IPO
An important Nvidia investment might be the first endorsement of Anthropic even before approaching public investors.
An anchor investor agrees to invest in a certain number of shares prior to the full-scale promotion of the IPO. Having such investors is especially useful in the case when the listing is associated with a huge volume of capital.
The proposed Nvidia investment is particularly relevant as Nvidia has been an existing provider for Anthropic. The AI company requires huge amounts of computational power to train its models due to growing demand for Claude.
Neither company was prepared to comment on the negotiations with each other. Nvidia has not responded to requests from Reuters for comments.
However, the cooperation of the companies was already confirmed. In November 2025, Nvidia announced that it will invest $10 billion in Anthropic as part of their partnership.
Under this deal, Anthropic was set to buy $30 billion worth of computing power from Microsoft Azure using Nvidia processors.
Anthropic Seeks More AI Computing Capacity
The collaboration between Anthropic and Nvidia is just one part of the much bigger picture in ensuring computing capacity for the AI firm’s operations.
Both Amazon and Google are among the firms funding Anthropic in addition to providing computing power to help it run its AI technologies.
In April, Anthropic announced that it would invest over $100 billion with Amazon Web Services over 10 years. In the deal, Anthropic will have access to over 1 million Trainium2 chips from Amazon.
Also, Anthropic has agreed with Google and Broadcom to increase TPU capacity by gigawatts.
Moreover, Anthropic is trying to get more control over its expenses related to hardware investments. Anthropic has begun creating a team of its own that works on developing chips specifically for Claude.
This approach will help Anthropic to cut down its dependency on external hardware manufacturers.
Anthropic Valuation Approaches $1 Trillion
The coming IPO would be yet another significant step in the valuation of Anthropic.
Back in May, it raised $65 billion at a post-money valuation of about $965 billion. Furthermore, its revenues have seen tremendous growth because companies and developers have been adopting Claude at a rapid pace.
The run rate of Anthropic’s annualized revenue surpassed $65 billion in July as compared to around $9 billion in December 2025, according to Reuters.
One reason the company may have a valuation of up to $2 trillion is due to the expected revenue growth of the company in the coming years. According to Reuters, Anthropic expects to generate revenues of around $190-$200 billion by 2028.
These expectations may very well attract investors as the company gears towards going public.
Nvidia Investment Highlights AI Infrastructure Demand
In addition to the Nvidia investment opportunity, it is worth mentioning the emerging financial and business connections between the providers of AI infrastructure and the model companies.
AI model providers need tremendous amounts of computing power for training models. On the other hand, chip companies like Nvidia enjoy the rapid development of the AI infrastructure market.
As far as Anthropic is concerned, getting the necessary computing power has become an integral element of its expansion strategy. Thus, a strategic partnership with Nvidia may go beyond an equity stake and help the company in its Claude expansion.
The planned IPO will happen ahead of the mid-term U.S. elections that will take place in November; however, the exact date of the offering is still undetermined.
Anthropic IPO Could Test AI Valuations
Anthropic’s possible $100 billion IPO will be a major test of investor appetite for very expensive AI firms and also might create a fundraising record.
This possible investment from Nvidia would make investors believe more in the valuation and prospects of the firm. The IPOs in the U.S. market had raised a record amount of $137 billion by August, according to Dealogic.
Anthropic is planning to go public before November; however, these things are not final yet.
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