Nvidia in talks to anchor Anthropic's record $2 trillion IPO

Anthropic's move to go public follows a year in which its revenue went from around $9 billion at the end of 2025 to over $65 billion by July 2026. The company behind Claude now wants to raise up to $100 billion at a valuation of around $2 trillion, which would make it the largest IPO in history. Nvidia's reported interest as an anchor investor would lock in shares before the stock hits the open market — a role that matters because anchor investors can signal confidence to other buyers.

The two companies are not strangers. Anthropic runs on Nvidia GPUs and committed in 2025 to buying $30 billion in Azure compute packed with Nvidia chips. Nvidia, meanwhile, is described as playing central bank for the AI industry, investing in customers like Anthropic and OpenAI while backing some $300 billion in guarantees that help data centers secure financing.

That circularity is what the deal hinges on. Nvidia's money would largely flow back to Nvidia in chip orders, so the real question for readers is less whether the investment happens and more how much of the $10 billion lands as GPU and compute commitments. The IPO's expected wrap-up before the US midterms in November is the next concrete marker to watch, though the final terms, valuation and timing still rest on talks that have not closed.