Nvidia in talks to invest $10B in Anthropic's IPO

Reuters reports Nvidia is discussing investing up to $10 billion in Anthropic's planned IPO, which could value the company at $2 trillion and be the largest IPO in history.

Why it matters: Much of that money would likely flow straight back to Nvidia through chip orders, extending the same circular-financing pattern seen in Nvidia's deals with OpenAI and other AI labs, and tying Nvidia's own revenue growth even more tightly to the fortunes of the companies it invests in.