Anthropic is seeking Nvidia as an anchor investor in an IPO that could value the AI startup near $2 trillion, with Nvidia considering a stake of up to $10 billion.
Reuters said Anthropic may raise as much as $100 billion, but both the valuation and Nvidia’s check remain under negotiation and may overlap with Nvidia’s earlier up-to-$10 billion Anthropic commitment.
Nvidia could use the investment to deepen demand for its AI systems, though critics may question whether backing a customer blurs organic infrastructure demand with vendor financing.
Amazon already has much larger exposure: $8 billion invested, another $5 billion committed in April, potential for up to $20 billion more, and more than $100 billion of contracted AWS spending over 10 years.
That makes Anthropic’s execution a far bigger operating and capital-allocation issue for Amazon, even as the company supports multiple cloud and chip platforms rather than giving AWS full exclusivity.
With Nvidia funding the startup buying its chips, is Anthropic's rumored $2 trillion IPO a financial breakthrough or a circular financing trap?
As Claude models orchestrate automated cyberespionage, will mounting security threats and regulatory shutdowns derail Anthropic's historic late-2026 public market debut?