Two people familiar with the matter told Reuters that Nvidia is in advanced discussions to become an anchor investor in Anthropic’s upcoming initial public offering. The AI startup is seeking to raise as much as $100 billion, a move that could place its valuation around $2 trillion.
Potential Investment Details
According to the sources, Nvidia is considering committing up to $10 billion to the offering. The chipmaker’s participation would provide Anthropic with a deep‑pocketed strategic backer and signal confidence to other investors. Both companies have a long‑standing relationship: Anthropic relies heavily on Nvidia GPUs for its Claude models, and in November 2025 the two firms announced a broader partnership that included a $10 billion investment from Nvidia and a $30 billion commitment from Anthropic to purchase Microsoft Azure compute powered by Nvidia chips.
Why an Anchor Investor Matters
Anchor investors are institutional buyers that agree to purchase a set portion of an IPO before the shares are marketed to the broader public. Their early commitment helps stabilize the offering and can boost confidence among later investors. Recent mega‑IPOs have routinely lined up such anchor commitments to manage the massive capital they aim to raise.
Anthropic’s Growth and Funding Landscape
Anthropic’s revenue run rate climbed above $65 billion by the end of July, up from roughly $9 billion at the close of 2025. The company raised $65 billion in May at a post‑money valuation of $965 billion. Projections suggest revenue could reach $190 billion to $200 billion by 2028. In addition to Nvidia, Anthropic counts Amazon, Google and Broadcom among its major backers and compute suppliers. In April the firm pledged more than $100 billion over a decade to Amazon’s AWS, while also using over one million of Amazon’s Trainium2 chips and securing additional TPU capacity from Google.
Strategic Implications
Securing Nvidia as an anchor investor would deepen the already complex ties between AI model developers and the chipmakers that power them. It would also give Anthropic a stronger footing as it seeks to diversify its hardware supply chain and manage the high cost of compute. For Nvidia, the investment aligns with its strategy to embed its GPUs more deeply into the AI ecosystem and to benefit from the growth of frontier AI labs.
Timeline and Next Steps
The IPO is expected to close before the U.S. midterm elections in November, making it one of the largest public‑market tests of valuation and capital demand for AI companies. Both Anthropic and Nvidia have declined to comment on the reported talks, and the details remain confidential pending final agreements.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
