Nvidia (NVDA) Prepares Massive $10B Investment in Anthropic's Historic IPO

Key Takeaways

Table of Contents

Nvidia is currently negotiating a potential $10 billion investment in Anthropic’s upcoming IPO, with the AI company seeking a valuation approaching $2 trillion.
A strong commercial partnership already exists between both firms, featuring Anthropic’s $30 billion commitment to Microsoft Azure infrastructure utilizing Nvidia’s chip technology.
Financial reports indicate Anthropic’s annualized revenue surged from approximately $9 billion in late 2025 to surpass $65 billion by mid-2026.
The AI startup is strategically expanding its semiconductor supplier base through partnerships with Amazon, Google, and Broadcom, potentially affecting Nvidia’s future market dominance.
Wall Street analysts maintain bullish sentiment, with Piper Sandler launching coverage at “overweight” with a $300 target, while consensus ratings point to “Buy” with an average $324.34 price objective.

Semiconductor leader [[LINK_START_1]]Nvidia[[LINK_END_1]] has entered preliminary discussions to commit up to $10 billion toward Anthropic’s planned initial public offering, which aims to secure $100 billion in capital at a roughly $2 trillion company valuation. Trading commenced Monday with Nvidia shares priced at $218.29.

NVIDIA Corporation, NVDA

Reuters reports these negotiations remain in early stages with possibilities for adjustments to final arrangements. Should the transaction materialize, Nvidia would secure anchor investor status in what many consider the most significant AI sector public debut.

This wouldn’t mark Nvidia’s initial financial connection with Anthropic. Back in November 2025, the chip manufacturer announced plans to deploy up to $10 billion into Anthropic through an expanded collaboration framework. Concurrently, Anthropic pledged $30 billion toward Microsoft Azure computing infrastructure utilizing Nvidia’s advanced processors.

This arrangement positions Nvidia advantageously. The company stands to gain from Anthropic’s expansion both through equity ownership and hardware sales.

NVIDIA $NVDA IN TALKS TO INVEST UP TO $10B IN ANTHROPIC IPO

Nvidia is expected to anchor Anthropic’s planned IPO and is considering investing up to $10B in the offering, Reuters reports.

Anthropic is seeking to raise as much as $100B at a valuation of around $2T, which could… pic.twitter.com/UGqm1jHtnM

— Wall St Engine (@wallstengine) September 11, 2026

Anthropic’s explosive financial performance justifies the substantial valuation expectations. According to reports, the company’s annualized revenue trajectory accelerated from roughly $9 billion in December 2025 to exceed $65 billion by July’s conclusion in 2026. Forward-looking estimates suggest 2028 revenues could reach between $190 billion and $200 billion.

Strategic Moves to Broaden Semiconductor Supply Chain

Notwithstanding their strengthening partnership, Anthropic continues pursuing strategies to minimize dependence on Nvidia. This April witnessed the AI firm pledge over $100 billion across ten years to Amazon Web Services while committing to deploy more than one million Trainium2 processors from Amazon.

Additional agreements with Google and Broadcom bring multiple gigawatts of TPU computing power into Anthropic’s infrastructure. Separately, reports indicate Anthropic secured a $45 billion cloud computing arrangement with Nscale alongside a six-year, $10 billion contract with Volta for Norwegian data center facilities.

This supply chain diversification carries significant implications for Nvidia shareholders. The optimistic investment thesis surrounding Nvidia depends not solely on expanding AI expenditures but on Nvidia maintaining substantial market share. As Anthropic distributes business among multiple vendors, Nvidia’s revenue percentage faces potential compression.

Wall Street Perspectives on NVDA Stock

From the analyst community, Piper Sandler recently launched Nvidia coverage with an “overweight” designation and $300 price objective. Benchmark maintains its “buy” stance with a $335 target, while KeyCorp reiterated “overweight” status with a $330 projection.

Nvidia’s latest quarterly results displayed revenues of $96.22 billion, representing 105.9% year-over-year growth and surpassing the $92.27 billion analyst consensus. Earnings per share reached $2.22, exceeding the anticipated $2.09.

Management has authorized an $80 billion stock repurchase program. Additionally, a $0.25 per share quarterly dividend distribution is scheduled for October 1st.

Regarding insider transactions, Director Mark Stevens divested more than 622,000 Nvidia shares September 4th at an average $231.62 price point. Executive Vice President Timothy Teter similarly sold 30,000 shares at $217.88 on August 31st.

Institutional investors control 65.27% of outstanding shares, with Alecta Tjanstepension Omsesidigt maintaining a position exceeding 9.8 million Nvidia shares valued at roughly $1.97 billion according to recent SEC disclosures.

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