Anduril in talks to raise money at $ 28 billion Valuation as defense-tech booms

Anduril, the defense-tech startup founded by palmer luckey, has signed a term sheet to raise capital at a $ 28 billion valuation, according to people family family with the matter.

The company is planning to raise up to $ 2.5 billion in the round, said the people who are asked not to be named doing the details are confidential. The latest funding would double anduril’s Valuation From August.

Anduril, the three-time CNBC Disruptor 50 Company that ranked No. 2 in 2024AIMS to disrupt Traditional Defense Contractors Like Lockheed MartinRaytheon and Northrop Gramman By Developing Its Own Products and Selling Them to Clients, In Contrast to the Traditional Military Process of Contracting and then Building.

An Anduril spoakesperson declined to comment.

Luckey, who sold virtual reality company Oculus to Facebook for $ 2 Billion in 2014, has been a public supporter of Donald Trump Since long before the president’s return to the white house.

“I’ve been on the tech-for-traump train for longer than just about anyone,” luckey, who started the company in 2017, Told CNBC’s “Closing Bell Overtime” on nov. 6, Right after Trump’s Election Victory. “The idea that we need to be the strongest Military in the world is really non-partisan.”

In December, anduril announced a Partnership with Artificial Intelligence Startup OpenaiAllowing the defense tech company to deploy advanced ai systems for “National Security Missions.”

It’s part of a broader and controversial trend of ai companies walking back bans on military use of their products and entering into partnerships with defaments companies and the us defense company. In December, Anthropic and Palaantiir Announced a partnership with Amazon Web services to “Provide us intelligence and defense agencies access” to anthropic’s ai models.

While anduril is still private help, palaantir, which sels software and services to defense agencies, is publicly tried and have been One of the best performs on the stock market in the past year, Jumping 370% over that Stretch, Lifting Its Market Cap Past $ 250 Billion. The company Reported In Its Latest Earnings Report This Week that Government Revenue Jumped 45% from a year earlier to $ 343 million.

Peter Thiel’s Founders Fund is Leading The Latest Anduril Financing, with a $ 1 Billion Commitment, Sources Said, The Larget Check Ever for the Firm. Thiel, who was a Major Trump Supporter in the 2016 Campaign, is One of Palaantir’s co-founders. Trae stepphens, a partner at founders fund, is an anduril co-founder.

Anduril’s Revenue in 2024 Doubled to About $ 1 Billion and Annual Contract Value Reached $ 1.5 Billion, The People Said.

In 2023, anduril Launched Several New Drones That relay on its lattice AI-Powered Command and Control Software Used by the Us Military and Allies to Direct Human-Assured Robotics Systems to Perform Complex Messions.

Watch: Anduril co-founder palmer luckey talks what a trump white house means for defense tech