Nvidia’s $10 Billion Anthropic Bet Could Turn AI’s Biggest Chip Supplier Into Its Biggest IPO Backer

GETITFULLY  •  September 12, 2026

Nvidia is reportedly in talks to become an anchor investor in Anthropic's planned initial public offering, potentially committing as much as $10 billion to a deal that could value the Claude developer at around $2 trillion.

The potential investment would deepen an already important relationship between the world's dominant supplier of artificial intelligence chips and one of the fastest-growing companies building advanced AI models.

Anthropic is reportedly considering raising as much as $100 billion through its IPO, a scale that could make the transaction one of the largest public offerings ever attempted.

Nvidia Could Become an Anchor Investor

Anthropic is reportedly seeking to bring Nvidia into its public offering as an anchor investor.

Anchor investors typically commit to purchasing a significant amount of shares before or during an IPO. Their participation can increase confidence among other institutional investors and help establish demand for the offering.

Nvidia's involvement would be particularly significant because the chipmaker has become one of the most influential companies in the global artificial intelligence industry.

Its GPUs power much of the infrastructure used to train and run today's largest AI models.

However, the discussions remain ongoing and no final investment has been announced. The amount Nvidia ultimately invests — if a deal is completed at all — could still change.

Anthropic Could Raise Up to $100 Billion

The scale of Anthropic's potential IPO would be extraordinary even by the standards of today's rapidly expanding AI sector.

The company could reportedly attempt to raise as much as $100 billion from public-market investors.

At the same time, bankers and investors are considering a valuation of approximately $2 trillion.

If Anthropic successfully completes an offering near those figures, it would instantly become one of the world's most valuable publicly traded technology companies.

The valuation would be particularly notable because Anthropic was founded only in 2021.

Why Nvidia's Potential $10 Billion Investment Matters

Nvidia investing billions of dollars in Anthropic would be significant for reasons that go far beyond the size of the transaction.

Anthropic requires enormous amounts of computing power to train new generations of Claude models and serve millions of AI requests.

Much of the infrastructure used across the artificial intelligence industry depends on Nvidia processors.

That means Nvidia could potentially participate in Anthropic's future growth in two separate ways:

• As a shareholder benefiting from an increase in Anthropic's market value.
• As a technology supplier benefiting from Anthropic's continued spending on AI computing infrastructure.

This unusual relationship illustrates just how closely connected today's largest artificial intelligence companies have become.

The Deal Highlights AI's Growing Capital Loop

One of the most interesting aspects of the proposed investment is what it reveals about how money moves through the artificial intelligence industry.

Training and operating advanced AI models requires billions of dollars in chips, servers, networking hardware, electricity and data-centre capacity.

That has created a financial cycle in which AI developers raise enormous amounts of capital and then spend much of that money on infrastructure supplied by technology companies that may themselves become investors.

The AI Capital Cycle Can Look Like This

1. AI companies raise billions of dollars from investors.
2. They use that capital to purchase GPUs, servers and cloud computing capacity.
3. Chipmakers and cloud providers earn revenue from that spending.
4. Some infrastructure companies invest money back into AI developers.
5. The AI companies then use fresh capital to purchase additional computing infrastructure.

Nvidia potentially investing in Anthropic would become one of the clearest examples of this interconnected financial ecosystem.

Anthropic Is Spending Heavily on AI Computing

Anthropic's rapid growth requires substantial computing capacity.

The company has increasingly signed large infrastructure agreements as demand rises for Claude, Claude Code and its enterprise artificial intelligence services.

Anthropic has relationships with several cloud and infrastructure providers and has worked to secure access to enough processors to support future generations of its models.

These infrastructure commitments demonstrate why capital remains so important even for AI companies generating rapidly increasing revenue.

Amazon and Google Are Already Major Anthropic Backers

Nvidia would not be the first technology giant to financially back Anthropic.

Amazon and Google have already invested heavily in the company.

These relationships combine investment capital with access to cloud infrastructure and specialized artificial intelligence hardware.

Anthropic has also attempted to avoid relying completely on a single infrastructure provider.

Adding Nvidia as a major shareholder would create an even broader network of strategic technology partners around the company.

Anthropic's Valuation Has Risen Rapidly

The possibility of a $2 trillion valuation reflects the extraordinary investor enthusiasm surrounding leading artificial intelligence businesses.

Anthropic was reportedly valued at approximately $965 billion in May 2026.

A listing near $2 trillion would therefore represent another dramatic increase in valuation within only a few months.

Investors appear to be betting that Anthropic can continue expanding rapidly as corporations adopt generative AI tools across programming, customer support, research, productivity and business automation.

Revenue Expectations Are Enormous

Anthropic's valuation is also being supported by expectations of very large future revenue.

The company's annualized revenue run rate has reportedly risen above $65 billion.

Anthropic has also reportedly projected revenue of approximately $190 billion to $200 billion by 2028.

Those figures explain why investors may be willing to consider a valuation that would normally appear extraordinary for such a young company.

However, future revenue projections remain projections, and public-market investors will eventually be able to evaluate Anthropic's financial performance quarter by quarter.

The IPO Could Move Toward October

Anthropic is reportedly preparing to begin marketing its IPO around mid-October 2026 at the earliest.

The final timing will depend on market conditions, regulatory requirements and decisions made by Anthropic and its investment banking partners.

Once a formal IPO prospectus becomes available, investors should gain much more detailed information about the company's revenue, operating expenses, infrastructure commitments, cash flow and financial risks.

Wall Street's Biggest Banks Are Reportedly Involved

Several major global investment banks are reportedly involved in preparing the potential offering.

• Morgan Stanley
• Goldman Sachs
• JPMorgan
• Citigroup

The involvement of some of Wall Street's largest institutions reflects both the expected size and complexity of the transaction.

Anthropic Could Challenge IPO Records

An offering approaching $100 billion would place Anthropic's listing among the most important public-market events in technology history.

A valuation close to $2 trillion would also demonstrate how dramatically the artificial intelligence boom has altered investor expectations.

Only a few years ago, generative AI companies were mostly private research organizations and startups.

They are now potentially entering public markets at valuations comparable with some of the world's largest corporations.

The IPO Will Test Whether AI Valuations Can Survive Public Markets

Private investors have repeatedly assigned enormous valuations to artificial intelligence companies.

Becoming publicly traded, however, creates a very different level of financial scrutiny.

Investors will closely watch:

• Anthropic's quarterly revenue growth.
• The cost of training new AI models.
• The cost of operating Claude at global scale.
• Enterprise demand for Claude and Claude Code.
• Profitability and operating margins.
• Long-term infrastructure commitments.
• Competition from other major AI developers.
• How quickly AI adoption continues across businesses.

Anthropic's IPO could therefore become one of the clearest tests yet of whether enormous private-market AI valuations can be justified under the constant scrutiny of public investors.

Nvidia Has More Than One Reason to Want Anthropic to Succeed

Nvidia's position in the artificial intelligence ecosystem makes the potential investment especially interesting.

If Nvidia invests in Anthropic, it could benefit financially if Anthropic's share price rises.

At the same time, Anthropic's continued growth would likely require additional investment in AI infrastructure.

That could indirectly support demand for the type of processors Nvidia sells.

In other words, Anthropic's success could potentially benefit Nvidia both as an investor and as a supplier.

But Anthropic Is Diversifying Its Infrastructure

Anthropic is not completely dependent on Nvidia.

The company has developed relationships with several major cloud and semiconductor providers as it attempts to secure enormous amounts of computing capacity.

Diversification gives Anthropic greater flexibility and reduces the risks associated with relying on a single hardware supplier.

Nevertheless, Nvidia remains one of the most important companies supplying the advanced processors used throughout the AI industry.

Why This Deal Matters Beyond Nvidia and Anthropic

The potential transaction provides a glimpse into how the modern AI economy is being built.

Chipmakers, cloud providers, AI model developers and investors are becoming increasingly connected through both commercial agreements and financial investments.

These relationships can accelerate the development of new technology because AI companies gain access to massive pools of capital and computing infrastructure.

But they can also create questions about how independently AI companies and their infrastructure suppliers operate when they increasingly own financial stakes in one another.

A $100 Billion IPO Could Reset Expectations Across AI

Anthropic's potential public offering could influence far more than its own valuation.

A successful IPO close to the reported figures could reset expectations for other major privately held artificial intelligence companies.

Investors could become more willing to support enormous valuations if Anthropic demonstrates that public markets will absorb a transaction of this scale.

On the other hand, weak demand or disappointing performance after the IPO could raise broader concerns about whether AI valuations have moved too far ahead of actual financial results.

The Biggest AI IPO Could Become the Biggest Test of the AI Boom

Anthropic's planned IPO has the potential to become a defining moment for the artificial intelligence industry.

Raising as much as $100 billion could provide the company with extraordinary resources to build data centres, secure computing capacity, train future generations of Claude models and compete with some of the largest technology companies in the world.

Bringing Nvidia into the offering as a major anchor investor could strengthen investor confidence.

At the same time, it would highlight how financially intertwined AI developers and the companies supplying their infrastructure have become.

For now, Nvidia's potential $10 billion investment remains under discussion rather than a completed transaction.

If an agreement is ultimately reached, however, one of the world's most important suppliers of artificial intelligence chips could also become one of the largest financial backers of what may become one of the biggest IPOs in history.