The artificial intelligence sector is bracing for a major turning point with the potential IPO of Anthropic, which could reach a valuation of $2 trillion. At the heart of this operation, Nvidia is reportedly considering stepping in as an anchor investor with a financial commitment that could climb as high as $10 billion. This strategic role would allow the semiconductor giant to secure the deal well before it opens to the public, sending a powerful signal of confidence to global financial markets ahead of the mid-October deadline.
This initiative marks a new chapter in the symbiotic relationship between the two entities. This is not Nvidia's first investment, having already orchestrated a massive cloud computing deal estimated at $35 billion. Through this structure, the chipmaker takes on multiple roles, acting simultaneously as a hardware supplier, shareholder, and logistics guarantor. However, such intertwining fuels the debate over circular financing, with some analysts questioning the viability of an ecosystem where funds circulate in a closed loop between a dominant supplier and its most dependent clients.
For Nvidia, this accumulation of stakes aligns with an aggressive growth strategy, as AI labs are projected to account for approximately 25% of its revenue by next year. While company management maintains that this technology platform remains flexible and redeployable, this "third-layer" investment strategy creates an unprecedented level of mutual dependency. Anthropic needs Nvidia’s computing power to maintain its competitive edge, while the chipmaker has every interest in ensuring its partners have the resources to continue investing heavily in its chips.
The implications extend well beyond these two companies. This IPO is part of a broader wave of capital raising aimed at absorbing more than $200 billion from financial markets by the end of the year. This thirst for institutional liquidity is being closely watched by the crypto ecosystem, which is historically correlated with these same capital flows. For investors, Nvidia's involvement remains a double-edged sword: it acts as a guarantee of financial stability while raising questions about the extreme concentration of resources among a few dominant tech players.