Nvidia in Talks to Anchor Anthropic's Potential $100 Billion IPO, Sources Say

Artificial intelligence startup Anthropic is in discussions to bring chipmaker Nvidia on as an anchor investor for its initial public offering, a deal that could value the company at around $2 trillion, according to a Reuters report citing people familiar with the matter. The potential IPO aims to raise as much as $100 billion, which would make it one of the largest in history.

The Potential Deal

Nvidia is reportedly considering an investment of up to $10 billion in the offering, one of the sources told Reuters. The plans remain confidential and could change, the sources cautioned. Anthropic declined to comment on the discussions, and Nvidia did not immediately respond to a request for comment, according to the report.

Securing a prominent anchor investor like Nvidia would provide a significant vote of confidence for the listing. Anchor investors commit to purchasing a substantial portion of an IPO before it is marketed to the public, a common strategy used to build momentum for large-scale offerings and assure other investors of the company's stability.

Strategic Ties and Market Implications

The potential investment highlights the increasingly symbiotic relationship between leading AI model developers and the hardware companies that power them. Anthropic is a major customer for Nvidia's GPUs, which are essential for training and running its Claude family of AI models, and already counts tech giants like Amazon and Google among its backers.

For the broader market, Anthropic's IPO is shaping up to be a major test of public investor appetite for the massive capital requirements and soaring valuations of frontier AI companies. Nvidia's backing could help validate the valuation and attract further institutional investment in what is expected to be a landmark offering.

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Anthropic's Rapid Growth

The proposed $2 trillion valuation represents a dramatic increase from Anthropic's last funding round in May, when it raised $65 billion at a post-money valuation of $965 billion. This growth is fueled by soaring revenue and ambitious projections.

Key financial metrics cited in the report include:

• An annualized revenue run rate exceeding $65 billion as of the end of July.
• A revenue projection of $190 billion to $200 billion for 2028.

The listing is reportedly targeted for completion before the U.S. midterm elections in November.