Archive · 12 Sep 2026
Anthropic Discusses $100 Billion IPO With Nvidia Investment
Anthropic is discussing an IPO that could raise up to $100 billion and value the company at around $2 trillion.
Nvidia is considering investing as much as $10 billion as an anchor investor, according to Reuters sources.
The confidential discussions remain ongoing, and Anthropic and Nvidia have not confirmed the proposed investment.
Anthropic relies heavily on Nvidia GPUs while also pursuing computing capacity from Amazon, Google, Microsoft and Broadcom.
The potential listing is expected before the U.S. midterm elections in November and would test investor appetite for frontier AI valuations.
- Who
- Anthropic and Nvidia are the main companies involved; Amazon, Google, Microsoft and Broadcom are also described as important technology or computing partners.
- What
- Anthropic is considering an IPO that could raise up to $100 billion, with Nvidia possibly investing up to $10 billion as an anchor investor.
- When
- The report was published on September 12, 2026; the IPO is expected to be completed before the U.S. midterm elections in November.
- Where
- The potential listing would take place in the United States; no specific exchange was identified.
- Why
- Anthropic is seeking capital for its rapidly expanding AI business and computing needs, while Nvidia’s participation could support the offering and deepen their commercial relationship.
Potential Benefits
Risks and Uncertainties
Investor confidence
Potential Benefits
Nvidia’s participation as an anchor investor could provide an early vote of confidence and help support an unusually large IPO.
Risks and Uncertainties
The proposed investment and listing remain under discussion, and the plans could change.
Strategic relationship
Potential Benefits
The investment could deepen ties between Nvidia and Anthropic, which relies heavily on Nvidia GPUs.
Risks and Uncertainties
Anthropic’s reliance on Nvidia highlights its dependence on major chip suppliers, even as it seeks to diversify its computing sources.
AI valuation and demand
Potential Benefits
Anthropic’s reported revenue growth and projections could support a valuation near $2 trillion.
Risks and Uncertainties
The IPO would test whether public-market investors are willing to support the enormous valuations and computing costs of frontier AI companies.
- Potential fundraising
- Up to $100 billion
- Potential valuation
- Around $2 trillion
- Potential Nvidia investment
- Up to $10 billion
- Latest reported valuation
- $965 billion post-money valuation after a $65 billion funding round in May
- Annualized revenue run rate
- More than $65 billion by the end of July, compared with about $9 billion at the end of 2025
- Projected 2028 revenue
- Approximately $190 billion to $200 billion
- Expected IPO timing
- Before the U.S. midterm elections in November
Sources
Anthropic in talks to bring Nvidia as anchor investor in potential $100-billion IPO: Report
Anthropic Eyes $100 Billion IPO: Nvidia May Put Up $10 Billion As Anchor Investor
Nvidia eyes major investment in Anthropic’s mega IPO
