Defense tech company Anduril is reportedly in talks to raise capital that could push its valuation up by $40 billion, reaching an astounding $100 billion. This marks more than three times the $61 billion it raised just last May.

The fundraising may come in two stages, potentially closing deals within a year and drawing further attention as the defense tech industry experiences a revival due to high demand for drones, autonomous craft, and AI in warfare.

With contracts with major military organizations around the world, Anduril’s revenue has surged, reaching $2.2 billion compared to just over $1 billion the previous year. Other companies like Shield AI and Mach Industries are also cashing in on this trend, pushing for cheaper 'attritable' systems.

Anduril’s investors include tech heavyweights such as Thrive Capital and Andreessen Horowitz, with current Vice President JD Vance among them. However, the company has kept its cards close to its chest regarding any final decisions.