Nvidia Ponders $10 Billion Stake in Record-Breaking Anthropic IPO

Nvidia is reportedly in talks to invest up to $10 billion in Anthropic's planned initial public offering (IPO), which could become the largest IPO on record. According to Reuters, Anthropic aims to raise as much as $100 billion at a valuation of around $2 trillion.

The potential investment would deepen Nvidia's relationship with one of its major AI-chip customers and provide Anthropic with a prominent early backer for the listing. Nvidia and Anthropic already have substantial financial and commercial ties, with Nvidia investing up to $10 billion in Anthropic under a broader partnership that included a commitment by the AI startup to purchase $30 billion of Microsoft Azure computing capacity powered by Nvidia chips.

Anthropic is also backed by Amazon and Alphabet's Google, both major suppliers of its computing infrastructure. The company has raised $65 billion in May at a post-money valuation of $965 billion and has an annualized revenue run rate surpassed $65 billion by the end of July, up from roughly $9 billion at the end of 2025.