Nvidia Weighs $10 Billion Stake in Anthropic's Record-Breaking IPO

Nvidia may anchor Anthropic's $2 trillion IPO, according to sources. The company is seeking to raise as much as $100 billion at a valuation near $2 trillion, which would be the largest initial public offering ever attempted.

The chipmaker Nvidia is weighing up to $10 billion of that amount. However, it's worth noting that Nvidia is also one of Anthropic's compute suppliers, having announced strategic partnerships with the company in November 2025.

Anthropic's annualised revenue run rate passed $65 billion by the end of July, up from roughly $9 billion at the close of 2025. If the proposed valuation holds, Anthropic would price at about 31 times its current annualised run rate.

The listing is expected to complete before the US midterm elections in November, which could compress the time frame for finding a price and raise the value of having committed buyers lined up in advance.