Nvidia leadership change clouds Anthropic's $10B investment and IPO plans

Nvidia CEO Jensen Huang's sudden departure is prompting market reassessment of AI firm Anthropic's record-breaking IPO, particularly its planned $10 billion investment in the offering. The leadership change could impact the strategic partnership between the two companies. Anthropic's filing shows Nvidia agreed to subscribe to about $10 billion of shares in a $26 billion private placement alongside the IPO. The Claude chatbot developer plans to raise up to $90.4 billion through the IPO and placement, targeting a fully diluted valuation of roughly $1.4 trillion. Bloomberg Intelligence analyst Mandeep Singh noted Nvidia's board may reconsider the investment's scale and timing, though commitments from Google and other investors could limit the impact. Anthropic has diversified its AI chip suppliers across Nvidia, AMD, Google, and Amazon, with AMD and Google also participating in the placement. The IPO has seen strong demand, with orders exceeding available shares multiple times. As of October 31, Anthropic's annualized revenue reached $81 billion, up from $65 billion in late July. The stock is expected to list on Nasdaq on November 19 under the ticker "ANT," with Goldman Sachs and Morgan Stanley as lead underwriters.