Autonomous military aircraft maker Shield AI has raised $1.5 billion in Series G funding at a post-money valuation of $12.7 billion, an impressive 140% increase from last year.

The deal, led by PE firm Advent and a JPMorganChase investment group, includes the sale of $500 million in preferred shares to Blackstone funds, along with a $250 million loan. This capital is being used to acquire Aechelon Technology, an expert in flight simulation tech.

The key to Shield AI’s success? It was selected by the U.S. Air Force for its Hivemind autonomy software in February as part of their Collaborative Combat Aircraft drone prototype program. Interestingly, even Shield's competitor Anduril is sharing some of the spoils, with both companies working on next-generation warfighter drones.

While this funding surge suggests a rapidly advancing military technology landscape, it also raises questions about the ethics and control of AI in warfare. As Shield AI’s valuation continues to rise, so too does the potential for a future where machines take command of our skies – and perhaps much more.