Anthropic is readying one of the largest stock listing ever. The Claude maker is reportedly considering an Anthropic IPO that would value the artificial intelligence company at roughly $2 trillion and raise up to $100 billion, while Nvidia is apparently considering a possibility of a “large anchor investment.”
The figures are staggering – but not definitive. As Anthropic’s revenues grow by leaps and bounds, and a plan to list on the Nasdaq is expected to be in the works for the fall of 2026, investors are anxiously observing if Wall Street is ready for another trillion-dollar AI valuation.
Anthropic $2 Trillion IPO: What We Know So Far
The company is looking to raise as much as $100 billion in a sale that could value the company at around $2 trillion, Reuters noted. The deal, if finished around those numbers, would be one of the more ambitious IPOs ever – if it ever happens.
That’s another drastic valuation hike for the company. In May 2026, Anthropic officially announced a $65 billion Series H funding round at a $965 billion post-money valuation. By that time, its annual revenue run rate was over $47 billion.
The sales terms of the IPO, however, are still under discussion. The $2 trillion Anthropic valuation should not be relied upon as an official IPO price until Anthropic releases its prospectus, or an official price range, but is instead reported valuation.
Nvidia Could Anchor the Anthropic IPO With Up to $10 Billion
One of the most closely watched developments is Nvidia’s potential Anthropic investment.
Nvidia is reportedly thinking about investing as much as $10 billion as an anchor investor. An anchor investor is an investor who purchases a large block of a stock offering and may give confidence to the other institutional investors prior to trading.
Nvidia and Anthropic Already Have Deep AI Ties
It would not be a “new” relationship. In November 2025, Nvidia and Anthropic announced a strategic technology partnership.
Anthropic agreed to use up to 1 gigawatt of Nvidia compute capacity with Grace Blackwell and Vera Rubin systems, for a start. As part of this partnership, Nvidia also agreed at the time to spend up to $10 billion in Anthropic.
One of the world’s largest AI model developers would be paired with the leading provider of state-of-the-art AI computing infrastructure through the potential IPO investment.
For Nvidia, this relationship also offers access to demand from Claude. A big technology partner supporting the IPO would help give an unusual large offering more investor confidence, according to Anthropic.
Anthropic Revenue Run Rate Reaches $65 Billion
The biggest good news for Anthropic’s high valuation is the company’s phenomenal revenue growth.
In July 2026, Anthropic’s annualized revenue reached approximately $65 billion, whereas it was approximately $9 billion at the end of 2025, according to the Financial Times. For the second quarter, revenues were about $11.5 billion, an increase of about 14 times the same period last year.
In addition, Anthropic has informed investors that it will continue to have positive adjusted operating income for the second straight quarter. Investors, however, must be aware of the accounting qualifications—profitability doesn’t include stock-based compensation, gross margins greater than 80% don’t reflect certain revenue-sharing and model-training expenses.
That therefore makes for the eventual public IPO filing, even more important. It should give investors more transparency with regards to revenue, expenses, cash consumption, compute commitments and profitability.
When Could Anthropic Make Its Nasdaq Debut?
Anthropic is said to have partnered with Nasdaq for its listing, which is expected to be in October 2026. The company has yet to make its IPO financial filing public, and the actual trading date is subject to change.
Previously, it was reported that Anthropic had privately filed documents for an IPO with the U.S. Securities and Exchange Commission in June. The public prospectus would then be the next big step, showing the audited financial material and ultimately the share price range.
The timing may still change based on the market, regulatory analysis and investor appetite. Therefore, investors need to differentiate between the October IPO target reported and a confirmed trading date on the Nasdaq.
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Why Anthropic’s IPO Could Reshape the AI Market
If the Anthropic IPO is successful and expands to $2 trillion, it will set a new standard for valuing frontier AI companies on the public markets.
The valuation suggests investors are not only placing their bets on Claude’s current sales, but on further growth in enterprise AI, coding agents and AI-driven workflow automation. Anthropic would then be worth approximately 31 times its annual revenue, based on a $2 trillion valuation and $65 billion annualized revenues.
So hardly any room for a significant slowdown. Therefore, revenue sustainability and the investment in infrastructure are going to become key features that investors are going to watch closely, as well as margins and the capacity of Anthropic to turn quick growth into long-lasting cash flow.
Readers can track company developments through the official Anthropic newsroom and Nvidia’s investor relations portal.
FAQs
Is Anthropic really valued at $2 trillion?
Not yet. Around $2 trillion is the reported valuation being considered for the IPO. Anthropic’s last confirmed private valuation was $965 billion following its May 2026 Series H.
How much could Nvidia invest in Anthropic’s IPO?
Nvidia is reportedly considering an investment of up to $10 billion as an anchor investor. Discussions could still change before the offering.
What is Anthropic’s revenue run rate?
Anthropic’s annualized revenue reportedly reached approximately $65 billion by July 2026, up sharply from around $9 billion at the end of 2025.
When will Anthropic stock start trading?
Anthropic is reportedly targeting an October 2026 Nasdaq listing, but an exact debut date has not been officially confirmed.
