Nvidia’s Anthropic Mega IPO Talks Revive the Circular Financing Question
Reuters reported on 11 September 2026 that Nvidia is in talks to anchor Anthropic’s IPO with up to $10 billion, reviving the charge that Nvidia funds the customers that buy its chips. We traced the Anthropic loop leg by leg, read Nvidia’s July 2026 10-Q for its equity stakes, $65 billion of cloud agreements and $105 billion of guarantees, checked CoreWeave’s $6.3 billion capacity backstop and the $500 billion financing platforms, and compared it all with the vendor lending that sank Lucent and Nortel.