NVIDIA is reportedly in high-level talks to serve as an anchor investor for the upcoming initial public offering (IPO) of AI powerhouse Anthropic, a move that could solidify its position at the center of the artificial intelligence ecosystem. According to industry reports, the chipmaker is weighing an investment of up to $10 billion in the Claude developer, which is aiming to raise as much as $100 billion in what would be the largest IPO in history.
The potential listing comes amid a meteoric rise for Anthropic. The company, which is seeking a valuation approaching $2 trillion, has seen its financial performance accelerate rapidly. By the end of July, its annualized revenue run rate exceeded $65 billion, a stark increase from the approximately $9 billion reported at the close of 2025. With a May fundraising round already valuing the company at $965 billion, this IPO represents a bold ambition to double its valuation in a matter of months, supported by optimistic projections that anticipate revenues reaching as high as $200 billion by 2028.
For NVIDIA, participating as an anchor investor—a role that involves committing to purchase shares before the formal marketing phase of an IPO begins—would deepen its existing strategic partnership with Anthropic. The two firms are already tightly linked; Anthropic relies heavily on NVIDIA’s hardware to power its large-scale AI models. This synergy is part of a broader infrastructure strategy for the AI developer, which has also secured massive computing capacity agreements with Amazon and Microsoft Azure to support the ballooning demand for its Claude platform.
Despite the excitement surrounding the potential record-breaking IPO, markets reacted with caution. NVIDIA shares saw slight volatility on Wednesday, closing at $218.29—a minor dip of 0.03%—following the news. While the stock saw early intraday gains, the enthusiasm was tempered by broader market trends, with shares experiencing a marginal decline of an additional 0.01% in after-hours trading.
The aggressive expansion of Anthropic’s infrastructure needs remains a key driver for this deal. Beyond its reliance on external suppliers, Anthropic is also building an internal team to develop custom, proprietary chips to gain better control over hardware costs and resource availability. This, alongside multi-gigawatt deals for Google’s TPU capacity, suggests that Anthropic is aggressively positioning itself to scale independently while maintaining its core supplier relationships.
While sources close to the matter suggest the listing could conclude before the U.S. midterm elections in November, they cautioned that the timeline and final terms of the investment remain fluid. Neither Anthropic nor NVIDIA has officially commented on the ongoing negotiations. As the AI sector continues to command record-breaking levels of capital, a successful $100 billion IPO for Anthropic would likely set a new benchmark for the tech industry, further cementing the role of hardware suppliers like NVIDIA in the growth trajectory of generative AI leaders.
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