deVere Group CEO Calls Possible $2 Trillion Anthropic Valuation “Nuts”

DeVere Group CEO Nigel Green criticized expectations for a possible $2 trillion valuation for Anthropic, warning that public investors could bear risks tied to the artificial-intelligence company’s large computing commitments as its proposed U.S. listing leaves key terms unset.

“Frankly, it’s nuts,” Green said of the possible valuation. He also warned, “Public shareholders will be putting in the money without getting control, income or certainty.” Green said savers could gain indirect exposure if pension and index funds eventually hold Anthropic shares, describing a possible future outcome.

Anthropic filed a public registration statement Oct. 26 for a proposed Nasdaq Global Select Market listing of Class A common stock under the ticker ANT. The company has not set the number of shares or a price range, and the registration statement is not yet effective. The filing sets no IPO valuation; the $2 trillion figure is an expectation Green cited.

The possible valuation would be more than twice Anthropic’s $965 billion post-money valuation from its May Series H funding round. Investors have also discussed other potential IPO valuations in earlier coverage of Anthropic’s valuation range.

For the six months ended June 30, 2026, Anthropic reported $16.286 billion in revenue and an $80.748 billion net loss. The loss included $72.388 billion from changes in the fair value of convertible notes, derivative liabilities and SAFEs. Anthropic also recorded a $693 million operating loss and $8.945 billion in compute and infrastructure expenses during the period.

The filing describes substantial purchase commitments and leases, mostly related to compute and infrastructure, but leaves the aggregate committed-spending amount blank. Green cited at least $518 billion in computing and infrastructure commitments, a figure the public filing does not confirm.

Anthropic’s proposed stock structure gives Founder LLC stock voting power equal to 50.1% of total voting power on general stockholder matters. The company says it does not anticipate paying cash dividends in the foreseeable future.