Defence tech startup Anduril targets $60 billion valuation in upcoming funding round

Palmer Luckey’s defence technology company, Anduril, is reportedly in the midst of raising a multibillion-dollar funding round led by Thrive Capital and Andreessen Horowitz, according to a new report from The Wall Street Journal.

The prospective raise would come less than a year after the company completed its Series G financing in June, a round that brought in $2.5 billion at a $30 billion valuation. Lux Capital and Founders Fund are also expected to take part in the new investment.

An earlier Bloomberg report said the round could raise as much as $8 billion in fresh capital for the company, which closed its previous financing last summer.

The fundraising effort is unfolding at a delicate time for defence startups. Following a contract conflict between Anthropic and the Pentagon, the U.S. government has moved to cancel all of its contracts with the AI company. At the same time, Defence Secretary Pete Hegseth has also threatened to designate Anthropic as a supply-chain risk.

Although Luckey has not explicitly endorsed the supply-chain-risk designation itself, he has publicly backed the government’s broader position in the dispute. “At the end of the day,” Luckey wrote in a recent post on X, “you have to believe that our imperfect constitutional republic is still good enough to run a country without outsourcing the real levers of power to billionaires and corpos and their shadow advisors.”