Nvidia may anchor Anthropic IPO as valuation talk hits 2T USD

Reuters reports that Anthropic is expected to start marketing its IPO in mid-October at the earliest, a shift that still keeps the Claude maker on track for one of the most watched AI listings.

The market context is unusually large. Earlier reporting from Bloomberg and AFP said Anthropic’s debut could match or exceed SpaceX’s record IPO size, with bankers discussing a raise of more than 100B USD and a valuation that could approach 2T USD. Anthropic has not publicly confirmed the final timing or terms.

Reuters has now added another important piece: Nvidia is considering becoming an anchor investor with up to 10B USD in the offering, according to people familiar with the talks. If that happens, the listing would tie Anthropic’s public-market story even more closely to the chip supply chain behind frontier AI.

For AI users and builders, the listing matters because Anthropic is no longer just a model lab. Claude Code has helped push the company deeper into enterprise software, while its growth plans depend on massive spending for chips, servers and possibly custom silicon. Public investors would be buying into both Claude’s product momentum and the capital intensity of frontier AI.

The practical takeaway: the AI model race is moving further into public-market infrastructure, where product adoption, compute access and financing will be judged together.