Anthropic is in early-stage discussions with Nvidia regarding a potential IPO that could raise up to $100 billion. If successful, the offering would value the AI company at approximately $2 trillion, potentially becoming the largest IPO in history.
Nvidia is considering an anchor investment of up to $10 billion in the offering. This amount aligns with the chipmaker's previous $10 billion commitment to Anthropic's computational infrastructure, which was established in 2025.
The company aims to complete the IPO before the US midterm elections in November 2026, with an S-1 filing expected in late September 2026. This timeline is intended to avoid potential regulatory and political uncertainty surrounding the election cycle.
In May 2026, Anthropic reached a private valuation of $965 billion following a $65 billion Series H funding round. By the end of July 2026, the company's annualized revenue run rate exceeded $65 billion.
