Nvidia Cuts Stake in OpenAI’s Data Center in Half Amid Anthropic’s Q2 Revenue Record

Nvidia reduces its financial commitment to the OpenAI data center project by almost half, from $250 billion to less than $120 billion due to concerns from investors about having too much exposure in one project. Nvidia’s guarantee now applies to the initial stages of building a 5 GW data center complex. They are currently negotiating a 10 GW lease agreement and a $350 billion chip financing agreement.

1Anthropic: $11.5B in a Single Quarter, $190–200B Forecast by 2028

In the same news cycle, we learn that Anthropic reported Q1 2026 revenues of $4.73 billion and Q2 2026 revenues of $11.5 billion, which is 2.4x QoQ and 14x YoY. They expect to generate between $190 and $200 billion in revenues by 2028 (up from their previous estimate of $45 billion in May). They plan to go public in late September or early October 2026 with a market cap of around $1 trillion.

2What This Means for the Market

These news items give us a glimpse into the paradoxical state of the AI industry — the biggest infrastructure investment in the history of tech is being reined in, but OpenAI’s main competitor is growing faster than even the most optimistic predictions for future monopolies. The big AI money is moving around, but it’s not disappearing.