Anthropic Plans $2 Trillion Nasdaq IPO With Nvidia Investment

Anthropic has selected Nasdaq as the exchange for its initial public offering targeted for October 2026. The listing could be the largest in history, with the company aiming to raise up to $100 billion at a valuation of approximately $2 trillion. Nvidia Inc. is currently in talks to become an anchor investor, considering a contribution of up to $10 billion to secure long-term demand for its GPUs and future Vera Rubin chips.

The company's valuation is supported by rapid growth driven by Claude Code, an autonomous AI agent for software development. This growth pushed Anthropic's annualized revenue run rate from $9 billion in 2025 to over $65 billion by August 2026. To support this scale, Anthropic has committed $30 billion to Microsoft Azure infrastructure and signed a six-year, $13.7 billion compute deal with RUM Group to move workloads to a Georgia data center.

This compute agreement signals a political rapprochement with the Trump administration. The United States Department of Defense had previously designated Anthropic a supply chain risk after the company refused to remove safeguards against autonomous weapons and mass surveillance. Despite the IPO plans, CEO Dario Amodei recently called for a slowdown in AI development due to safety concerns, a move that contributed to a broader AI stock selloff on September 14. To protect its safety mission, Anthropic's structure as a Public Benefit Corporation may limit public shareholder control over its board.