Anduril in Talks to Raise $2.5 Billion at $28 Billion Valuation Amid Defense-Tech Surge

Anduril, the defense-tech startup founded by Palmer Luckey, is in discussions to raise up to $2.5 billion in funding at a $28 billion valuation, according to sources familiar with the matter. This new valuation would double the company’s worth since August.

Anduril, ranked No. 2 on CNBC’s 2024 Disruptor 50 list, is challenging traditional defense contractors like Lockheed Martin, Raytheon, and Northrop Grumman by designing and selling its own military technology rather than following the standard government contracting model.

A spokesperson for Anduril declined to comment on the funding talks.

Expanding Influence in Defense and AI

Luckey, who previously sold Oculus to Facebook for $2 billion in 2014, has been a vocal supporter of Donald Trump. Following Trump’s election win, Luckey told CNBC’s Closing Bell Overtime, “The idea that we need to be the strongest military in the world is really non-partisan.”

In December, Anduril announced a partnership with OpenAI to integrate advanced AI systems into national security operations. This move is part of a growing trend of AI firms, such as Anthropic and Palantir, reversing past restrictions on military use of their technology and forming alliances with defense organizations.

Palantir, a major player in defense-tech, has seen its stock surge 370% over the past year, pushing its market cap above $250 billion. The company recently reported a 45% jump in government-related revenue, reaching $343 million for the quarter.

Backing from Peter Thiel’s Founders Fund

Peter Thiel’s Founders Fund is leading Anduril’s funding round with a record-setting $1 billion investment. Thiel, a key supporter of Trump’s 2016 campaign, is also a co-founder of Palantir. One of Anduril’s co-founders, Trae Stephens, is a partner at Founders Fund.

Rapid Growth and Military Adoption

Anduril’s revenue doubled in 2024 to approximately $1 billion, with an annual contract value of $1.5 billion, sources said. The company continues to expand its defense capabilities, having launched several new drones last year powered by its Lattice AI system. Lattice enables human-assisted robotics to execute complex military missions, positioning Anduril as a key innovator in modern warfare technology.

With this funding, Anduril is set to further scale its AI-driven defense solutions, strengthening its role as a disruptive force in the defense industry.