By Daniel Sparks
Publication Date: 2026-09-26 19:37:00
Nvidia (NVDA +0.22%) might be gearing up to write Anthropic a second $10 billion check.
The chipmaker’s in talks to be an anchor investor in Anthropic’s planned initial public offering (IPO), Reuters said this month, a deal that could deepen its ties to a major customer. A source put Nvidia’s possible investment at up to $10 billion.
The artificial intelligence (AI) company behind the Claude models is reportedly looking to raise as much as $100 billion in a listing that might value it at roughly $2 trillion. Reuters has since said that the IPO may slip past the U.S. midterm elections in November. Of course, the plans might still change, and neither company has confirmed the talks.
What would Nvidia get for the money?
Image source: Nvidia.
Two $10 billion checks
The first check was directly tied to Nvidia’s hardware. In November 2025, Nvidia said it would invest up to $10 billion in Anthropic, along with up to $5 billion from Microsoft. Anthropic, in turn, committed to buy $30 billion in Azure computing capacity. And its first deal with Nvidia covered up to 1 gigawatt of compute on Nvidia’s Grace Blackwell and Vera Rubin systems.
Later, in March, CEO Jensen Huang said the $10 billion Anthropic investment would probably be Nvidia’s last in the company. His reason for a similar call on OpenAI was that it was “going to go public.”
The check would buy a sliver of Anthropic
At a $2 trillion valuation, $10 billion is around half of 1% of the company. That’s a big chunk of the…
