- Anduril is in talks for a funding round that could value the company at about $100 billion, putting it near defense giants like Lockheed Martin.
- The firm has surged recently (doubling to $61B in a $5B round, reporting $2.2B revenue in 2025) and keeps unveiling new kit, most recently the Thunder VTOL drone.
- Proposed deal terms are unusual — a possible two-stage, benchmark-driven valuation and investor concessions similar to SpaceX’s private rounds.
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