Nvidia in Talks for $10 Billion Stake in Blockbuster Anthropic IPO

Nvidia is negotiating a potential investment of up to $10 billion in the highly anticipated Anthropic IPO. The funding would help the AI firm aim for the biggest stock market debut ever recorded.

Reuters reported the discussions on Friday. Anthropic is targeting as much as $100 billion at a valuation near $2 trillion, though neither company has confirmed these numbers.

What It Would Take to Surpass SpaceX

SpaceX set the benchmark in June. It secured $75 billion at roughly $1.8 trillion. The stock subsequently closed 19% higher on its first trading day, among the largest first-day IPO gains ever seen.

Anthropic needs to surpass both figures. Its $100 billion target tops the raise, and $2 trillion beats the valuation. The record is broken if the deal is priced as reported.

That pricing step is the difficult part. An anchor investor commits to purchasing a substantial block of shares before a listing opens. That early order signals to other buyers that the price is credible.

BREAKING: Nvidia is in talks to invest up to $10 BILLION in Anthropic's mega IPO, per Reuters.

Anthropic is seeking to raise as much as $100 BILLION at a massive $2 TRILLION valuation.

The IPO is expected before the November midterm elections and could become the largest public… pic.twitter.com/BphH7NcfOv

— Bull Theory (@BullTheoryio) September 12, 2026

The $10 billion from Nvidia would represent about a tenth of the total raise. The chipmaker committed the same amount in November 2025. Nvidia also guarantees a $105 billion backstop on AI data center leases.

Traders Already Value Anthropic Higher Than SpaceX

Nineteen exchanges currently list pre-IPO perpetual futures for Anthropic. These contracts allow traders to wager on a private company's worth before it goes public. Kraken, Coinbase and Binance all offer these instruments.

According to CoinGecko, those contracts implied an average valuation of $1.94 trillion at the beginning of September. That figure already exceeds the $1.8 trillion SpaceX had when it priced.

Polymarket enables users to place real-money bets on future events. There, traders assign the IPO only a 67% chance of completion by October 31.

Those odds increase to 85% by November 15 and to 90% by year-end, based on $2.89 million in trading volume. The market anticipates the record will be broken, but not necessarily before the midterm elections.

Anthropic filed confidentially in June and has yet to publish its prospectus.