Nvidia in talks to invest in Anthropic’s mega IPO, sources say

Key Points:

• Anthropic is planning to raise up to $100 billion in an IPO that could value the AI startup at around $2 trillion, with Nvidia considering a $10 billion investment as an anchor investor to boost confidence in the offering.
• Nvidia's potential involvement would deepen its strategic partnership with Anthropic, which has existing backing from major tech companies like Amazon and Google, and has committed to massive cloud computing purchases from these suppliers.
• Anthropic's valuation has surged significantly, having raised $65 billion in May at a $965 billion valuation, with projections of $190-$200 billion in revenue by 2028, reflecting rapid growth in its AI business and compute needs.
• The IPO is expected to complete before the U.S. midterm elections in November and is part of a broader trend of blockbuster listings contributing to a record U.S. IPO market, which has raised $137 billion through August 2025.
• Anthropic is also working on controlling hardware costs by designing custom chips for its AI model Claude, as it scales its revenue and infrastructure requirements.