Nvidia in talks to invest up to $10 billion in Anthropic IPO - Reuters

Nvidia (NASDAQ: NVDA) is reportedly in preliminary discussions to invest up to $10 billion in Anthropic (Claude developer), potentially setting a record for the largest IPO on record, according to a report by Reuters. Anthropic aims to raise up to $100 billion in the upcoming IPO, which would be backed by a valuation of approximately $2 trillion. The talks are still under negotiation and could undergo changes.

This potential investment by Nvidia would further cement its relationship with Anthropic, a significant customer of the company's AI chips. It would also provide Anthropic with a notable early backer for the IPO listing. An anchor investor's commitment can be crucial in determining investor appetite for the high valuations and capital requirements of frontier AI companies.

Nvidia and Anthropic have already had substantial financial and commercial ties. In November 2025, Nvidia announced its intention to invest up to $10 billion in Anthropic, coupled with a commitment that the AI startup would purchase $30 billion worth of Microsoft (NASDAQ: MSFT) Azure computing capacity powered by Nvidia chips.

Anthropic's backing also includes Amazon (NASDAQ: AMZN) and Alphabet’s (NASDAQ: GOOGL) Google, both of which are substantial suppliers of its computing infrastructure. In April, Anthropic pledged more than $100 billion over a decade to Amazon Web Services (AWS) and plans to utilize over one million Amazon Trainium2 chips for its computing needs.

The Claude developer has also entered into agreements with Google and Broadcom (NASDAQ: AVGO) to augment its computing capabilities by adding multiple gigawatts of Tensor Processing Units (TPUs). Anthropic achieved a remarkable post-money valuation of $965 billion in May and has been experiencing a rapid growth in annualized revenue, surpassing $65 billion by the end of July.