Heightened market attention has accompanied Anthropic PBC's planned initial public offering after Nvidia unexpectedly removed its CEO, Jensen Huang. Given the close strategic ties between the two AI companies, investors are reassessing how the leadership turmoil at Nvidia could affect Anthropic's upcoming Nasdaq debut.
What Anthropic is planning
Anthropic, developer of the Claude chatbot, could raise as much as $90.4 billion from its public offering and a simultaneous private placement, according to filed documents. The fundraising could value the company at about $1.4 trillion. The private placement has a total size of $26 billion, and Nvidia had been expected to purchase roughly $10 billion of shares as part of that deal.
What happened at Nvidia
The dismissal followed disclosures about Jensen Huang's private life, including relationships in which one involved a woman alleged by some to be linked to Chinese espionage, according to reporting by Bloomberg. The development created leadership uncertainty at the chipmaker and stirred market reactions.
Investor reaction and risks
Mandeep Singh, an analyst at Bloomberg Intelligence, said the leadership change could prompt Nvidia's board to reassess the size, timing or strategic rationale of its financial commitments to Anthropic. At the same time, Anthropic is not solely dependent on Nvidia for hardware: the company also uses a significant share of chips from AMD, Google and Amazon.
In the private placement, Google is also committing $10 billion and AMD about $2.5 billion. Luke Lango, lead technology analyst at InvestorPlace, said those commitments help protect against hardware supply-chain risks.
Matt Maley, chief market strategist at Miller Tabak & Co., noted that demand for the shares has been strong so far and that investors could quickly move past the Nvidia issue after a successful listing. The scandal and Nvidia's stock decline have not yet appeared to dampen interest in Anthropic's shares; insiders say the offering has been multiple times oversubscribed.
Financials and timetable
Anthropic's improving financial metrics also support investor confidence: the company's revenue run rate reached $81 billion as of October 31, a $10 billion increase in one month from the end of September; it was $65 billion at the end of July.
Following an offering led by Goldman Sachs and Morgan Stanley together with about twenty other banks, Anthropic's shares are scheduled to begin trading on the Nasdaq Global Select Market under the ticker ANT on November 19, 2026.
Conclusion
The surprise removal of Nvidia's CEO has introduced short-term uncertainty around Anthropic's IPO, but Anthropic's diversified hardware sourcing and large commitments from multiple strategic investors — including Google and AMD — reduce its dependence on any single partner. Markets and analysts will closely watch how Nvidia's governance and financial commitments evolve, even as Anthropic's financial trajectory and strong demand for its shares support the likelihood of a successful listing.
