Anthropic is negotiating an investment of up to $10 billion from Nvidia ahead of an IPO valued at $2 trillion

Anthropic is negotiating to bring Nvidia on board as the lead investor in an initial public offering that could become the largest in history. The company behind the Claude chatbot intends to raise up to $100 billion, at a valuation of approximately $2 trillion, according to sources cited by Reuters.

Nvidia is considering an investment of up to $10 billion. The plans are not definitive and may change, but the chipmaker’s participation would strengthen its relationship with Anthropic, one of its important customers.

Anthropic relies heavily on Nvidia graphics processors, but is trying to diversify its infrastructure to meet the growing demand for Claude. The company has strategic partnerships with Amazon and Google, both of which are investors and computing service providers.

The listing is expected before the U.S. legislative elections in November. In May, Anthropic raised $65 billion at a valuation of $965 billion, while annualized revenue exceeded $65 billion at the end of July, compared with approximately $9 billion at the end of 2025.

The targeted valuation is also based on revenue estimates of $190–200 billion in 2028. The IPO could surpass SpaceX’s June listing, in a record year for U.S. public offerings.