From Pymnts · PYMNTS · · 1m 20s
Nvidia may anchor Anthropic's record IPO
Anthropic is reportedly courting Nvidia for $10 billion in what could be the biggest stock listing ever recorded.
In brief
Anthropic is reportedly courting Nvidia for $10 billion in what could be the biggest stock listing ever recorded. The chip supplier funding the AI lab that buys its chips shows how tightly compute and capital are now bound together. Originally reported by Pymnts.
Nvidia in talks to anchor
Reuters reported Friday that Nvidia is weighing up to $10 billion as anchor investor in Anthropic's IPO. Terms are still being negotiated.
A $2 trillion target
Anthropic aims to raise up to $100 billion at a valuation near $2 trillion, which would make it the largest IPO ever recorded.
Timed before the midterms
The listing is projected to close before the November U.S. midterm elections. It follows SpaceX's $1.7 trillion listing in June.
Supplier and customer, entwined
Anthropic runs Claude on Nvidia GPUs while building an in-house chip team and courting other compute providers. The money flows back to the vendor.
“the potential deal highlights the close relationship between top AI developers and hardware suppliers”
They already did this once
In November, Nvidia pledged up to $10 billion against Anthropic's $30 billion commitment to Nvidia-powered Microsoft Azure infrastructure.
Revenue is doing the talking
Anthropic's annualized run rate passed $65 billion by July 2026, up from $9 billion at the end of 2025. Neither company has confirmed the talks.
The takeaway
The chip supplier funding the AI lab that buys its chips shows how tightly compute and capital are now bound together.
