According to sources, Anthropic is advancing its initial public offering (IPO), with the goal of completing the listing before the mid-term elections in November in the United States. NVIDIA is considering investing up to $10 billion and becoming a significant investor in this deal. If the current discussions proceed, the fundraising scale for Anthropic could approach $100 billion, with a valuation of about $2 trillion.
This arrangement has drawn market attention not only to the scale of IPO, but also to the capital relationships within the AI industry chain. Anthropic is a model developer for the Claude platform and is also one of the most highly regarded private companies in the current generative AI sector. NVIDIA, on the other hand, is a core supplier in the AI chip market.
NVIDIA may become an important investor
Anthropic has long relied on NVIDIA GPU for model training and deployment. The report mentioned that the company previously also committed to purchasing Microsoft's Azure computing resources worth $30 billion, which are also largely based on NVIDIA chips.
In addition to Microsoft, Anthropic is also collaborating with Amazon and Google to diversify its computing power sources and to establish its own chip development team. This indicates that on one hand, it continues to rely on external cloud and chip suppliers, but on the other hand, it is also attempting to reduce the risks associated with a single supply chain.
$65 billion in annual revenue
Anthropic The basis for this valuation discussion mainly comes from its rapid revenue growth. Reports show that as of the end of July, the company's annualized revenue rate has exceeded $65 billion, which is higher than the approximately $47 billion in May and far exceeds the around $9 billion at the end of 2025.
Long-term forecasts cited by Reuters indicate that Anthropic's revenue could reach $190 billion to $200 billion by 2028. Based on a valuation of $2 trillion, the company's current valuation multiple is approximately 31 times its annual revenue.
OpenAI Not entering the IPO market for now.
Anthropic There are also favorable factors at this time point in advancing IPO. OpenAI The Chief Executive Officer Sam Altman recently stated that OpenAI will not go public in 2026, as AI security issues have received more attention, and now is not the right time.
This means that Anthropic's most direct private AI competitor will not appear in this year's IPO schedule for the time being. Reuters, citing Dealogic data, reports that the US IPO market has raised $137 billion as of August. If a single transaction approaches $100 billion, it will significantly reshape this year's US stock market fundraising landscape.
