Nvidia in Talks for $10B Investment in Anthropic's Potential Record IPO

Nvidia is reportedly in discussions to invest $10 billion in Anthropic as the AI company prepares for what could become the largest initial public offering in history, according to Reuters. The investment would position the chipmaker as a strategic early backer and strengthen ties between Nvidia and one of its key enterprise customers, per people familiar with the matter.

Anthropic is seeking to raise as much as $100 billion in the offering, which could value the AI company at approximately $2 trillion. The negotiations remain confidential and ongoing, with Anthropic declining to comment and Nvidia yet to respond to requests for comment, Reuters reported Saturday. The sources spoke anonymously due to the sensitivity of the discussions.

The potential investment comes amid Nvidia's aggressive expansion into AI software and developer infrastructure. Nvidia recently agreed to acquire Hugging Face for $12.9 billion, a platform hosting more than three million AI models and serving over 18 million developers, according to Nvidia CEO Jensen Huang. The deal would extend Nvidia's reach beyond chips into the software layer used to build and deploy artificial intelligence applications.

Anthropic has also been scaling up its compute footprint ahead of the prospective listing. Bitcoin miner Riot Platforms secured a 20-year agreement valued at approximately $9 billion to supply 191 megawatts of capacity from its Rockdale, Texas campus to Anthropic, Bloomberg reported, citing people familiar with the deal. The power agreement highlights the substantial infrastructure demands facing frontier AI companies as they race toward commercialization.