With the possibility raised that Anthropic could pursue an initial public offering in November, Nvidia is reportedly reviewing participation as an anchor investor with up to $10 billion.

According to online media outlet GigaZine on Sept. 15, Anthropic plans to raise about $100 billion through the IPO, and Nvidia’s investment talks are still at the consultation stage and could change.

The key is the fundraising structure rather than the listing itself. Anthropic is expected to secure about $100 billion in the IPO, and a plan has been discussed under which Nvidia would take $10 billion of that as an anchor investor. An anchor investor is a core investor that supports early demand before and after the listing. If the plan materialises, Nvidia would strengthen its relationship with Anthropic beyond being a simple financial investor.

In the market, attention is on the point that if the talks are concluded, it could serve as a signal that boosts other investors’ confidence. There was also speculation that Anthropic’s listing valuation could reach $2 trillion. However, the talks are not at a final stage. According to people familiar with the matter, Nvidia is discussing a plan to participate as an anchor investor in the IPO, and the investment amount has been cited at up to $10 billion.

Anthropic has expanded aggressively this year. It raised $30 billion in February 2026, lifting its enterprise value to $380 billion. In May it secured an additional $65 billion, and its enterprise value rose to $965 billion at the time. As of August, its annualised revenue was tallied at $65 billion, about 7 times the level at the end of last year.

Earnings growth is also being read as a backdrop to the listing push. Anthropic’s profit rose quickly as it expanded businesses based on Claude, and quarterly revenue was reported to have increased more than 14-fold from a year earlier. As fundraising and revenue growth continued at the same time, the company has been highlighted as having the capacity to absorb large funding demand at the time of listing.

The listing process has already begun. Anthropic submitted a draft registration statement to the U.S. Securities and Exchange Commission in June. It began preparing to go public on a confidential basis, and the possibility of a November IPO has been raised. In this flow, if Nvidia deploys large funds pre-emptively, it could add momentum to a successful offering and securing demand.

The parties did not provide official positions. Anthropic and Nvidia both declined to comment on the matter. Whether the investment talks lead to actual participation, and whether the $2 trillion company value cited during the listing process will be maintained, is expected to become clear through future disclosures and the investor bookbuilding process.