Startups

Nvidia agreed to buy about $10 billion of Anthropic stock in a placement tied to the IPO

The private placement is contingent on the offering; the IPO is not contingent on the placement. Quartz reported that an Anthropic spokesperson declined to comment and Nvidia did not immediately respond to a request for comment.

By Marcus Rodriguez · Nov 13, 2026, 10:05 AM EST

Why it matters: If the private sale does not close, Anthropic can still go public: its filing says the offering does not depend on the placement.

For information only, not investment advice. Prices delayed.

Tickers: NVDA

Nvidia's ($NVDA) board accepted Jensen Huang's resignation as president, chief executive and a director on Nov. 11, effective immediately, after Anthropic had already disclosed Nvidia's agreement to purchase shares in its IPO paperwork.¹² The $26 billion private placement that includes Nvidia's slice is contingent on the offering closing, and the IPO is not contingent on that sale.¹

Nvidia announced the departure on Nov. 12. Its board had appointed finance chief Colette Kress as interim CEO on Nov. 11; she will keep the CFO job while the board searches for a permanent successor.²³ The board named Harvey C. Jones its first chair and said it has full confidence in Kress and the leadership team, and that it expects operations, customer commitments and the product roadmap to continue without interruption.³

Anthropic, PBC launched the roadshow for its proposed IPO on Nov. 10, with an expected price of $70 to $78 a share, and has applied to list its Class A common stock on the Nasdaq Global Select Market under the symbol ANT.⁴

At the $74 midpoint of that range, Nvidia and Google would each buy about $10 billion of Class N shares.¹ AMD, Broadcom, Micron, Microsoft and TSMC Partners agreed to buy the rest of the $26 billion placement at the IPO price.¹ The private sale is scheduled to close immediately after the offering, once conditions including stockholder approval are met, which Anthropic says it expects to obtain before closing.¹

Quartz, citing Bloomberg, said the roughly $10 billion Nvidia pledge is in focus after Huang's resignation.⁵ The report said an Anthropic spokesperson declined to comment and Nvidia did not immediately respond to a request for comment.⁵

Quartz reported that Mandeep Singh, an analyst with Bloomberg Intelligence, said in a note Wednesday: “A leadership transition could prompt Nvidia’s board to reassess the size, timing or strategic rationale of the commitment to Anthropic.”⁵ Neither Nvidia's SEC filing nor its Nov. 12 press release says Nvidia has withdrawn the commitment.²³

Quartz also reported that Matt Maley, chief market strategist at Miller Tabak & Co., took a different view in a note to clients: "For now, it looks like the deal will go through."⁵

Neither Anthropic's filing nor its roadshow post specifies a first trading date.¹⁴ Quartz, citing Bloomberg, said the company could raise as much as $90.4 billion across the offering and the private sale, both slated for next week, and that the stock is expected to begin trading on Nov. 19 under the symbol ANT.⁵

Tags: ipo · ai · semiconductors · big-tech · sec · analysts