Nvidia is in discussions to become an anchor investor for the upcoming initial public offering of AI startup Anthropic. The chipmaker is considering a commitment of up to $10 billion for the listing, though terms remain under negotiation and are subject to change.
Anthropic aims to raise as much as $100 billion through the IPO, targeting a valuation near $2 trillion. If successful, this would represent the largest initial public offering ever recorded. The company expects to complete the listing before the U.S. midterm elections in November.
The partnership between the two firms is already established, as Anthropic relies on Nvidia GPUs for its Claude models. In November, Nvidia pledged $10 billion to support Anthropic’s infrastructure needs on Microsoft Azure, while Anthropic committed $30 billion to the same initiative.
The ambitious valuation target follows significant financial growth for the startup. By July 2026, Anthropic’s annualized revenue run rate exceeded $65 billion, a substantial increase from the $9 billion reported at the end of 2025.
