Nvidia Reportedly in Talks to Invest $10 Billion in Anthropic's Record IPO
Nvidia is reportedly in talks to invest up to $10 billion as a cornerstone investor in Anthropic's planned initial public offering. Anthropic aims to raise up to $100 billion at a valuation of around $2 trillion, potentially making it the largest IPO in history. A cornerstone investment from Nvidia would provide significant market confidence for Anthropic's record-breaking public debut while deepening the ties between the primary AI chip supplier and a top AI developer. It highlights the growing circular financial interdependence between AI hardware giants and frontier model creators. Anthropic's annualized revenue run rate reached over $65 billion by July 2026, up significantly from around $9 billion at the end of 2025. While heavily reliant on Nvidia GPUs, Anthropic is also diversifying its compute stack by purchasing Amazon Trainium2 chips, deploying Google TPUs, and building an in-house chip design team.
## BACKGROUND
A cornerstone investor is an institutional buyer that commits to purchasing a substantial block of shares before an IPO is offered to broader public investors, signaling stability and confidence. Anthropic, creator of the Claude AI assistants, requires vast computing resources to train and serve its advanced artificial intelligence models.