Nvidia is considering investing billions in Anthropic's IPO
Quick Look
- According to insiders, Nvidia is planning a billion-dollar entry into the planned IPO of the AI start-up Anthropic, possibly as an anchor investor with up to ten billion dollars.
- The IPO could reach up to $100 billion and seek a $2 trillion valuation, making it the largest in history.
- Anthropic relies heavily on Nvidia chips and previously had an investment agreement with Nvidia and a cloud commitment to Microsoft Azure.
AI-generated summary
Why It Matters
Anthropic is an AI start-up that develops large language models and relies heavily on Nvidia GPUs for training. In November 2025, Nvidia announced an investment of up to $10 billion in Anthropic in return for a commitment from Anthropic to use $30 billion worth of Azure computing capacity based on Nvidia chips.
Anthropic's IPO could be one of the largest in history. According to insiders, the US chip company Nvidia wants to participate. The AI start-up depends on the chip giant.
According to insiders, the US chip company Nvidia is considering a billion-dollar entry into the planned IPO of the AI start-up Anthropic. Nvidia is in talks to become an anchor investor, two people familiar with the matter said. The company is considering up to ten billion dollars for this, one of the insiders added. This would allow companies to further expand their business relationships.
Anthropic relies heavily on graphics processors from Nvidia to develop its AI models. In November 2025, Nvidia announced that it would invest up to ten billion dollars in the start-up; In return, Anthropic committed to buying computing capacity from Microsoft's Azure cloud based on Nvidia chips for $30 billion.
Anthropic's IPO could be the largest in history with a volume of up to $100 billion. The company is aiming for a valuation of around two trillion dollars, the people said. The stock market launch is scheduled to take place before the US midterm elections in November.
An entry by Nvidia could strengthen the confidence of other investors with a view to the IPO; This is considered an important test of whether investors support the enormous capital needs of leading AI developers. The IPO would mark a strong year for U.S. IPOs: After space company SpaceX debuted in June, they had raised a record $137 billion by the end of August, according to Dealogic data.
What to Watch
AI outlook — possibilities, not facts
Nvidia will participate as an anchor investor in the Anthropic IPO.
Likely · Within weeks
Anthropic's IPO will reach a volume of over $50 billion.
Possible · Within months
Open Questions
- Will Nvidia ultimately join the Anthropic IPO as an anchor investor?
- What will Nvidia's final issue amount be?
- When exactly will the IPO take place and which stock exchange will be chosen?
- How will other big tech companies react to this development?
