Nvidia in talks to invest up to $10 billion in Anthropic's IPO

Nvidia is in talks to invest up to $10 billion in Anthropic's planned initial public offering, Reuters reports. The company behind Claude aims to raise up to $100 billion at a valuation of around $2 trillion. It would be the largest IPO in history. Nvidia would join as an anchor investor, securing shares before the stock reaches the open market.

The two companies are already closely tied. Anthropic runs its models on Nvidia GPUs and in 2025 committed to buying $30 billion of Azure compute built on Nvidia chips. According to The Decoder, Anthropic's revenue grew from about $9 billion at the end of 2025 to more than $65 billion by July 2026. The offering is expected to close before the US midterm elections in November. Nvidia also backs roughly $300 billion in guarantees that help data centers secure financing.