Flash FinanceUS
After hours S&P 5007,520.93-0.38% Nasdaq25,065.88-0.74% Dow 3052,231.89-0.30% Russell 20002,821.38-0.68% Nasdaq-10027,740.79-0.60% MidCap 4003,700.81-0.39% SmallCap 6001,716.22-0.36% VIX19.46-2.31% 10Y Yield4.98+2.45% Close of Nov 10, 2026
Market news · Nov 10, 4:01 PM ET

Nvidia Would Buy About $10 Billion of Anthropic Stock Alongside Its IPO

Anthropic's updated SEC filing shows Nvidia would add about $10 billion through a private placement at the IPO price, as part of a $26 billion placement by seven computing suppliers. The deal adds a direct financial tie between a major chip supplier and a listing that could value the AI developer at up to $1.4 trillion.

By Flash Finance US desk (written with AI assistance) · Editor: Kokila

Nvidia's placement

The filing ties Nvidia to the listing through a separate private placement. Nvidia's investment in Anthropic would add about $10 billion through a separate private placement, part of a $26 billion commitment from seven computing suppliers, according to an updated Securities and Exchange Commission filing on November 10. The placement will use the same per-share price as the IPO. Those placement shares will not be subject to the usual post-IPO lock-up period.

The amounts are calculated at the midpoint of the proposed range. Anthropic anticipates $84.6 billion in combined net proceeds from the IPO and private placement, based on the midpoint of the proposed offering price. The company said it plans to use the money for general corporate purposes, including investment in compute and infrastructure.

Other buyers in the placement

Nvidia is not the only large buyer. At the midpoint, the filing shows:

  • Google and Nvidia, about $10 billion each
  • AMD, about $2.5 billion
  • Broadcom, Micron and Microsoft, about $1 billion each

Existing ties

Nvidia already has a financial and commercial relationship with Anthropic. In November 2025, Nvidia agreed to invest up to $10 billion in Anthropic and Microsoft up to $5 billion, while Anthropic committed to buy $30 billion of computing on Microsoft's Azure cloud and up to a gigawatt of capacity on Nvidia's systems. Nvidia's CEO said earlier this year that the earlier $10 billion investment would probably be the company's last there. He also said Nvidia's $10 billion investment in Anthropic — announced alongside Microsoft in November — will likely be its last in the company as well. The new placement is a further step beyond that statement. Nvidia has also said it has committed nearly $50 billion in frontier AI labs.

Pricing has changed

The terms have moved since the first reports. In September, Reuters reported that Anthropic was seeking to raise as much as $100 billion in the offering, which would value the artificial intelligence company at around $2 trillion. The terms now filed are lower. The prospectus ultimately filed with the SEC contained different terms, with Anthropic setting a lower price range and targeting reduced proceeds. Earlier, Anthropic told bankers that the pricing in a filing copy it had distributed, about 867 million Class A shares at $70 to $80, was "inaccurate".

One market analyst linked the lower valuation to spending. According to a Reuters-sourced report, the analyst said the move from the $2 trillion figure reflects a shift toward significant financial commitments and spending required to sustain it.

Timing and what is still unsettled

Final terms are not set. The figures above depend on the midpoint of the proposed range, and the company's final pricing, share count and placement amounts could change.

Why it matters for US investors

For Nvidia, Alphabet, AMD and other suppliers, the placement adds exposure to Anthropic's valuation alongside their existing commercial deals. For investors looking at the Anthropic listing, the company's ties to its suppliers are a central part of the offering story, since the same firms that sell it computing capacity are also buying shares at the IPO price.

NVDA stock pageGOOGL stock pageAMD stock page
AnthropicNvidiaAlphabetNasdaqAI infrastructure stocksIPO market

Sources

Written with AI assistance on Nov 10, 4:01 PM ET from the reports listed under Sources, and reviewed by our editor after publication. Before it was published, every figure was checked against those reports, and passages with figures that could not be found there were left out. It can still contain mistakes: read the sources before acting on anything. How we review. Not investment advice.