Anduril raised $5 billion at a $61 billion valuation, with revenue growth and autonomous defense programs supporting a steep AI premium.
What changed
Thrive Capital and a16z led a round that doubled both the company’s last financing size and valuation.
The company says 2025 revenue reached $2.2 billion, about double the prior year, while programs such as Fury and Lattice expand.
Why it matters
The valuation prices defense AI as a software-and-hardware stack, but it also depends on long-term conflict budgets.
What to watch
The useful signal is not the headline number alone, but whether the product, contract or platform shift becomes repeatable over the next two quarters.
Sources: CocoLoop