Anthropic in talks with Nvidia as anchor investor for potential $2 trillion IPO

Anthropic, the AI company behind the Claude family of models, is in discussions with Nvidia to serve as an anchor investor in a potential IPO that could raise up to $100 billion, according to Reuters. If completed, the offering would value Anthropic at roughly $2 trillion, making it the largest IPO ever by a wide margin. Nvidia is reportedly considering an investment of up to $10 billion in the offering, a figure that mirrors the chipmaker’s existing commitment to Anthropic’s computational needs. The IPO is targeting completion before the November 2026 US midterm elections, with an S-1 filing expected in late September 2026. From startup to $2 trillion candidate in three years Anthropic’s most recent private valuation hit $965 billion following a $65 billion Series H funding round in May 2026. A $2 trillion public valuation would roughly double that figure in a matter of months. Anthropic’s annualized revenue run rate exceeded $65 billion by the end of July 2026. A $100 billion raise would dwarf every previous IPO in history. For comparison, Saudi Aramco’s 2019 listing raised roughly $25.6 billion. Why Nvidia as anchor investor The chipmaker has already committed as much as $10 bil...