Key Highlights
- Nvidia is negotiating a potential $10 billion investment in Anthropic’s upcoming IPO, which may value the AI startup near $2 trillion.
- The chipmaker and AI firm maintain an existing commercial partnership, with Anthropic pledging $30 billion toward Microsoft Azure computing infrastructure utilizing Nvidia hardware.
- Anthropic’s annualized revenue rate surged from approximately $9 billion in late 2025 to surpass $65 billion by mid-2026.
- The AI company is expanding its chip supplier portfolio through partnerships with Amazon, Google, and Broadcom, potentially impacting Nvidia’s market dominance.
- Piper Sandler launched coverage on Nvidia with an “overweight” designation and $300 price objective, while analyst consensus remains at “Buy” with a $324.34 mean target.
Nvidia is engaged in discussions to commit as much as $10 billion toward Anthropic’s planned public offering, which could generate $100 billion and establish a valuation approaching $2 trillion for the artificial intelligence company. Nvidia shares began Monday’s session at $218.29.
According to Reuters, the negotiations remain in early stages and specific terms may evolve. Should the transaction materialize, Nvidia would secure a position as a cornerstone investor in what promises to be among the most anticipated technology debuts in the AI sector.
This wouldn’t mark Nvidia’s inaugural financial connection to Anthropic. Back in November 2025, Nvidia announced plans to deploy up to $10 billion in Anthropic through an expanded collaboration. Anthropic reciprocated by pledging to acquire $30 billion worth of Microsoft Azure computational resources running on Nvidia’s chip architecture.
The arrangement places Nvidia in a strategic position. The company stands to gain from Anthropic’s expansion through dual roles as both shareholder and technology provider.
Anthropic’s financial trajectory justifies the elevated valuation expectations. The company’s annualized revenue rate reportedly surged from roughly $9 billion at 2025’s conclusion to exceeding $65 billion by late July 2026. Forward-looking estimates project 2028 revenue between $190 billion and $200 billion.
Anthropic Expands Beyond Nvidia Chips
Notwithstanding the strong partnership, Anthropic is actively pursuing strategies to diminish its dependence on Nvidia. This April, the organization pledged over $100 billion across ten years to Amazon Web Services while committing to deploy more than one million of Amazon’s Trainium2 processors.
Additional agreements with Google and Broadcom will introduce multiple gigawatts of TPU infrastructure. Furthermore, Anthropic reportedly finalized a $45 billion cloud arrangement with Nscale alongside a $10 billion, six-year contract with Volta for Norwegian data center facilities.
For Nvidia shareholders, this supplier diversification carries significance. The optimistic outlook for Nvidia depends not solely on expanding AI expenditures, but on Nvidia maintaining substantial market capture. As Anthropic distributes contracts across multiple vendors, Nvidia’s revenue proportion becomes increasingly uncertain.
Wall Street’s Current Take on NVDA
Regarding analyst perspectives, Piper Sandler recently launched coverage on Nvidia with an “overweight” recommendation and $300 price objective. Benchmark maintains a “buy” stance with a $335 target, while KeyCorp reiterated an “overweight” designation with a $330 goal.
Nvidia’s latest quarterly results delivered revenue of $96.22 billion, representing 105.9% year-over-year growth and exceeding projections of $92.27 billion. Earnings per share reached $2.22, surpassing the $2.09 consensus estimate.
The corporation also maintains an authorized $80 billion share repurchase program. A quarterly dividend distribution of $0.25 per share is scheduled for October 1 payment.
Regarding insider transactions, Director Mark Stevens divested over 622,000 Nvidia shares on September 4 at an average of $231.62. EVP Timothy Teter similarly sold 30,000 shares at $217.88 on August 31.
Institutional ownership represents 65.27% of outstanding shares, with Alecta Tjanstepension Omsesidigt controlling over 9.8 million Nvidia shares valued at approximately $1.97 billion according to its latest SEC disclosure.
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