The artificial intelligence sector is abuzz with news of a potential mega IPO that could redefine the industry. Anthropic a leading AI company, is planning an initial public offering that could raise up to $100 billion valuing the company at approximately $2 trillion. This monumental event has caught the attention of Nvidia a key player in the tech world, which is considering a significant investment.
The proposed investment by Nvidia, reported to be up to $10 billion would make it a major early investor in Anthropic’s IPO. This move is not just a financial play but also a strategic one, as it would further solidify the existing partnership between the two companies. Anthropic relies heavily on Nvidia’s GPUs to power its AI models, making this investment a logical step in their collaborative journey.
Strengthening the Nvidia-Anthropic Partnership
The potential investment comes at a time when Anthropic is expanding its computing capacity to meet the growing demand for its AI services. Nvidia’s involvement would not only provide financial backing but also strengthen their business relationship. In November 2025, Nvidia announced a $10 billion investment in Anthropic as part of a broader partnership. Under this deal, Anthropic agreed to purchase $30 billion worth of Microsoft Azure computing capacity powered by Nvidia chips.
Anchor investors like Nvidia play a crucial role in mega IPOs. Their early commitment to buy a fixed amount of shares can boost investor confidence and set the stage for a successful listing. This practice has become increasingly common as companies aim to raise massive amounts of capital. For instance, Nvidia and Amazon were among the anchor investors in chip designer Arm’s IPO, while Saudi Arabia’s PIF was a key investor for SpaceX.
Major Tech Companies Backing Anthropic
Anthropic already boasts an impressive roster of investors, including some of the world’s largest tech companies. Amazon and Google are not only major backers but also primary suppliers of computing power. In April, Anthropic committed to spending over $100 billion on Amazon’s AWS over the next decade, utilizing more than 1 million of Amazon’s Trainium2 chips. Additionally, the company has agreements with Google and Broadcom to add several gigawatts of TPU capacity.
As Anthropic’s revenue continues to surge, the company is exploring ways to gain greater control over its hardware costs. This includes forming an in-house team to design custom chips tailored specifically for its AI models. Such initiatives highlight Anthropic’s strategic approach to managing its rapid growth and ensuring long-term sustainability.
The Road to a Record-Breaking IPO
The proposed IPO would mark another significant milestone in Anthropic’s journey. The company raised $65 billion in May at a post-money valuation of $965 billion. By the end of July, its annualized revenue run rate had exceeded $65 billion a substantial increase from approximately $9 billion at the end of 2025. The potential $2 trillion valuation is partly based on Anthropic’s projections of achieving $190 billion to $200 billion in revenue by 2028.
The listing is expected to be completed before the US midterm elections in November. This event would add to a series of major IPOs that have contributed to a record year for the US market. Elon Musk’s SpaceX made its debut in June, and US IPOs, excluding special-purpose acquisition companies, raised a record $137 billion through the end of August.
