Nvidia eyes $10 billion stake in Anthropic IPO

Silicon Valley chip giant Nvidia is in discussions to inject up to $10 billion into Anthropic’s upcoming initial public offering, according to reports from Reuters. The creator of the Claude family of artificial intelligence models aims to raise up to $100 billion in the debut, targeting a valuation of approximately $2 trillion. If successful, the listing would represent the largest initial public offering in history, with Nvidia securing a massive block of shares as an anchor investor before they are made available on the open market.

The proposed deal highlights the deep financial and operational ties between the two companies. Anthropic relies heavily on Nvidia hardware to train and run its systems. In 2025, the startup committed to purchasing $30 billion worth of Microsoft Azure cloud computing services powered by Nvidia graphics processing units. This massive infrastructure scaling has fueled explosive growth for Anthropic, which saw its revenue skyrocket from roughly $9 billion at the end of 2025 to more than $65 billion by July 2026. The company hopes to finalize its historic public debut before the United States midterm elections in November.

This transaction underscores Nvidia's unique position, acting as what observers call a "central bank" for the broader artificial intelligence sector. Beyond direct equity investments in key customers like Anthropic and OpenAI, the semiconductor giant has backed roughly $300 billion in financial guarantees to help data center operators secure funding. For AI practitioners and developers, this circular ecosystem ensures a highly stable, albeit heavily consolidated, supply chain. While it guarantees that cutting-edge hardware will continue to power Anthropic's frontier models, it also highlights how tightly bound the future of AI software development remains to a single hardware provider's financial maneuvers.