Nvidia is in discussions to potentially invest up to $10 billion in Anthropic's forthcoming initial public offering (IPO), according to a report from Reuters. This investment would strengthen Nvidia's relationship with Anthropic, a significant customer known for its Claude AI models. The IPO might aim to raise around $100 billion, valuing Anthropic at approximately $2 trillion, although the offering may be delayed past the U.S. midterm elections in November. Both companies have not officially confirmed the discussions.
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This proposed investment follows a previous $10 billion commitment from Nvidia to Anthropic, announced in November 2025, as part of a broader deal which included a promise from Anthropic to purchase $30 billion in Azure computing capacity. Nvidia had indicated that this investment could be its last in the company, in part influenced by plans from similar firms like OpenAI to go public.
At a valuation of $2 trillion, Nvidia's potential $10 billion stake would represent roughly half of 1% of Anthropic. This percentage is reflective of a significant investment, as it constitutes a substantial part of their fundraising goals. Nvidia previously served as a cornerstone investor in Arm Holdings' IPO, indicating its interest in purchasing stock under the same terms as other investors, a model that could apply to the Anthropic investment.
Currently, Anthropic is diversifying its computing resources, securing up to 5 gigawatts of capacity from Amazon and a similar amount from Google. The company aims to use funds from previous and upcoming investment rounds to enhance its computing capabilities, which would benefit both its operations and potentially return value to Nvidia through expanded business.
Nvidia's financial health suggests that the proposed $10 billion investment would not significantly impact its financial stability; the company reported $59.7 billion in profit for the three months ending July 26, doubling its earnings from the previous year. Furthermore, Nvidia's equity investments in private companies surged to $47.9 billion by the end of July, up from $22.3 billion earlier in the fiscal year. As AI-related spending becomes increasingly vital to Nvidia’s growth, this investment could serve as a strategic move to secure and enhance its position in the market.