Nvidia Weighs Up to $10 Billion Investment in $2 Trillion Anthropic IPO

Nvidia is reportedly in talks to invest up to $10 billion in Anthropic's planned initial public offering, which could value the artificial intelligence company at approximately $2 trillion.

The potential investment would give Anthropic a major strategic anchor investor ahead of the broader marketing of the offering, and deepen an existing relationship between Nvidia and Anthropic, who depend heavily on Nvidia GPUs to train and operate its Claude AI models.

Anthropic has been aggressively expanding its access to computing infrastructure as demand for Claude has increased, and has raised $65 billion in May 2026 at a post-money valuation of $965 billion. The company's annualized revenue run rate surpassed $65 billion by the end of July, up sharply from approximately $9 billion at the end of 2025.

The potential IPO valuation is also supported in part by company projections calling for approximately $190 billion to $200 billion of revenue in 2028. The offering could become the largest IPO in history if completed on those terms.