Anthropic Plans U.S. IPO to Raise Up to $100 Billion

en.Wedoany.com Reported - On September 11, people familiar with the matter disclosed that AI company Anthropic is in talks with Nvidia to invite the latter to serve as an anchor investor in its planned initial public offering (IPO). Anthropic's IPO aims to raise up to $100 billion, in a deal that could value the company at approximately $2 trillion; Nvidia is considering investing up to $10 billion in the IPO. The plans are still under discussion, and the specific financing scale, valuation, and Nvidia's investment amount may all be adjusted. Anthropic declined to comment, and Nvidia has not yet responded.

The current listing arrangement is expected to be completed before the U.S. midterm elections in November 2026. Anthropic completed a $65 billion Series H funding round in May this year, reaching a post-money valuation of $965 billion; the company officially disclosed that its annualized revenue at that time had exceeded $47 billion. Related market information shows that as of the end of July, its annualized revenue run rate had risen to more than $65 billion. If the IPO ultimately proceeds at a valuation of approximately $2 trillion, its valuation level will be further increased compared with the Series H funding round completed at the end of May.

Anthropic and Nvidia had already established a capital and computing power partnership. In November 2025, Nvidia announced a strategic partnership with Microsoft and Anthropic, with Nvidia at that time committing to invest up to $10 billion in Anthropic; Anthropic simultaneously committed to purchasing $30 billion of Microsoft Azure computing power and planned to adopt up to 1 gigawatt of computing capacity based on Nvidia's Grace Blackwell and Vera Rubin systems. The IPO investment is still under negotiation and cannot yet be regarded as a new $10 billion investment commitment made by Nvidia.

In terms of computing power supply, Anthropic has not exclusively used Nvidia GPUs. In April, the company signed an agreement with Amazon, committing to invest more than $100 billion in AWS technology and infrastructure over the next decade, obtaining up to 5 gigawatts of additional computing power, and has already used more than 1 million Trainium2 chips; the company also signed multi-gigawatt-level next-generation TPU computing power agreements with Google and Broadcom, with the related capacity planned to come online starting in 2027. Anthropic has clearly stated that its Claude models currently run on multiple hardware platforms, including AWS Trainium, Google TPU, and Nvidia GPU.

Nvidia and Anthropic's technical cooperation also includes optimizing future GPU architectures for Claude workloads. Anthropic also disclosed this year that the company is continuously increasing GPU and other specialized AI chip computing power and expanding training and inference capacity through multiple suppliers. If Nvidia ultimately participates in the IPO, its identity will simultaneously cover Anthropic's potential equity investor, AI computing hardware supplier, and technology partner.