Nvidia is negotiating to invest up to $10 billion as an anchor investor in Anthropic’s planned initial public offering, which seeks to raise up to $100 billion and target a valuation of about $2 trillion — a commitment that would represent roughly 10 % of the total capital being raised.
Deal specifics
The German tech‑news site the‑decoder.de, citing Reuters, reported on 12 Sept 2026 that “Nvidia verhandelt laut Reuters über eine Investition von bis zu zehn Milliarden Dollar in den geplanten Börsengang von Anthropic.” The same source added that “Das KI‑Unternehmen hinter dem Chatbot Claude will bei dem IPO bis zu 100 Milliarden Dollar einsammeln und strebt eine Bewertung von rund 2 Billionen Dollar an.” Both statements are verbatim excerpts from the Reuters story as reproduced by the‑decoder.de.
In the anchor‑investor model, Nvidia would commit the $10 bn before the broader market allocation, effectively guaranteeing a floor of capital for the offering. The source notes that this would make the IPO the “größte Börsengang aller Zeiten” – the largest IPO ever, according to the reporting.
Company backgrounds
Nvidia (NASDAQ:NVDA), headquartered in Santa Clara, California, is a leading semiconductor firm. Its chief executive is Jensen Huang. In its most recent 10‑Q filed 26 Aug 2026, Nvidia reported revenue of $177.837 billion for the six‑month period ending 26 July 2026 and net income of $118.010 billion for the same period. Total assets stood at $320.272 billion and shareholders’ equity at $228.984 billion. The company has 11,528 employees and 24.304 billion shares outstanding as of 25 Jan 2026.
Anthropic, founded in 2021 and based in San Francisco, is an artificial‑intelligence startup best known for its Claude chatbot. Its chief executive is Dario Amodei. The firm employs roughly 2,500 people. Anthropic’s revenue, according to its own statements quoted by the‑decoder.de, rose from about $9 billion at the end of 2025 to more than $65 billion by July 2026.
Financial context
The three headline figures are summarized in the table below.
| Metric | Amount | Unit | Period / Context | Source |
|---|---|---|---|---|
| Nvidia anchor investment | 10 | billion USD | Negotiations reported Sep 2026 | the‑decoder.de (citing Reuters) |
| Anthropic IPO fundraising target | 100 | billion USD | Planned IPO 2026‑2027 | the‑decoder.de (citing Reuters) |
| Anthropic IPO valuation target | 2 | trillion USD | Planned IPO 2026‑2027 | the‑decoder.de (citing Reuters) |
When expressed as a share of the total proceeds, the $10 bn anchor stake equals 10 % of the $100 bn target. The valuation multiple implied by a $2 trillion market cap on $100 bn of capital raised would be 20 ×, a figure that underscores the scale of the transaction but is not directly calculated in the source material.
Timeline and market implications
The only dated event in the packet is the Reuters report on 12 Sept 2026, which the‑decoder.de reproduced. The timing is notable because it precedes the U.S. mid‑term elections in November 2026 and aligns with Anthropic’s stated intention to complete the IPO before those elections.
Should the deal close, Nvidia would deepen its role as a “Zentralbank der KI‑Branche,” a term the source uses to describe Nvidia’s broader financing activities across the AI ecosystem. The source adds that Nvidia’s involvement could lower financing costs for the sector by providing guarantees worth roughly $300 billion, though that figure is part of the broader commentary and not a separate verified claim.
For investors, the anchor commitment signals confidence from a leading chipmaker in Anthropic’s growth trajectory. It also creates a direct financial link between two of the most valuable AI‑related entities in the market, potentially influencing how analysts price both companies ahead of the offering.
What remains unknown
- The final terms of the anchor investment, including pricing, share class and any lock‑up provisions, have not been disclosed.
- Exact timing of the IPO filing and pricing window remains unclear; the source only indicates a target window of 2026‑2027.
- Regulatory approvals, especially given the size of the offering, could affect the timeline.
- Whether other strategic investors will join Nvidia as co‑anchors has not been reported.
Until the companies file a prospectus or an official press release, these details will remain speculative.