Nvidia and Alphabet have each committed $10 billion to buy Anthropic shares at the IPO price. Anthropic set a price range of $70 to $78 for its Nasdaq debut. Both buyers also supply the compute Anthropic relies on.
Nvidia and Alphabet have each committed $10 billion to Anthropic through a private placement priced at the IPO level. The Claude developer plans to sell 825 million Class A shares at between $70 and $78 apiece.
At the top of that range, Anthropic's fully diluted valuation would land at approximately $1.404 trillion.
Seven anchor investors, $26 billion
The placement is designed to raise $26 billion from seven anchor investors, all buying at the final IPO price. Anthropic disclosed it in an amended registration statement filed with the SEC on or around November 10, 2026.
Pricing is expected on November 18, and the stock should start trading on the Nasdaq the next day under the ticker ANT. Combined with the offering, the raise could reach between $84.6 billion and $93.7 billion, depending on the final share price and whether underwriters exercise their option to buy additional shares.
Anthropic reported run-rate revenue of approximately $81 billion as of October 31, 2026.
Suppliers become shareholders
Anthropic has signed compute and infrastructure commitments exceeding $900 billion over the next decade, primarily with the same suppliers now taking large equity stakes.
The Motley Fool reports that Google's purchase uses up an option under a March 2026 financing agreement in full. Nvidia's purchase, by contrast, has no such link in the filing, according to the same report.
The deal comes as Nvidia's stock traded below $170, more than 30% under its 52-week high, at the time of the Motley Fool's writing.
A small check for Nvidia
Nvidia's free cash flow in the first half of its fiscal year was almost $70 billion, up around 77% year over year, so the $10 billion purchase is a modest bet by comparison.
Nvidia posts its fiscal Q3 results on Nov. 17.
Sources: Crypto Briefing, Fool
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