Nvidia’s Potential $10 Billion Investment in Anthropic’s IPO
Nvidia may put $10 billion into Anthropic’s initial public offering (IPO), surpassing Europe’s largest AI funding round by a significant margin.
The Context
- September 2026: Nvidia is in discussions to invest heavily in Anthropic, an AI company, as an anchor investor.
- Record-Breaking IPO: Anthropic aims to raise up to $100 billion at a valuation of around $2 trillion, marking the largest listing in history, surpassing SpaceX’s June raise of $75 billion.
- Comparative European Investment: This potential investment is larger than Europe’s biggest listing in decades, Porsche’s €9.4 billion (around $9.3 billion) in 2022.
Previous Investments
Nvidia is also an existing investor in Anthropic, having committed up to $10 billion separately. Anthropic’s quarterly revenue surpassed $11.5 billion in August, a significant growth from the previous year.
- European Investment: Just three days prior, Nvidia invested in Mistral, a European technology company, securing a €3 billion (around $3 billion) round, the largest ever raised by a European tech firm.
The Pattern: A Strategic Approach
This investment strategy involves Nvidia investing in companies that utilize its chips, supplying them, and sometimes leasing the hardware back. The Bank for International Settlements has expressed concerns about the transparency of these arrangements.
- European Parallel: In Europe, ASML led Mistral’s previous round, with Mistral borrowing from banks to purchase 13,800 Nvidia chips for a data center.
- Differing Focuses: While Mistral focuses on computing within Europe and sovereignty sales, Anthropic’s model centers around selling its AI technology directly.
Upcoming Events
The Anthropic IPO prospectus is expected this month, with the listing scheduled before the midterm elections. European institutions will have the opportunity to invest in the company, considering the existing presence of an American supplier with a stake in the alternative.
By Ana-Maria Stanciuc, Editor-in-Chief at TNW