Palmer Luckey’s defense-tech company is in the midst of a multibillion-dollar funding round led by Thrive Capital and Andreessen Horowitz. A new report from the Wall Street Journal.
The funding round will come less than a year after the company’s Series G, which closed in June with $2.5 billion against a $30 billion valuation. Lux Capital and Founders Fund are also expected to participate.
A previous report from Bloomberg Said the new round could bring up to $8 billion of capital to the company, which closed its previous funding round last summer.
The round comes at an awkward moment for defense startups. Following a contract dispute between Anthropic and the Pentagon, the US government is in the process of canceling all of its contracts with the AI company, and Defense Secretary Hegseth has threatened to designate the company as a supply chain risk.
While not explicitly supporting the supply-chain-risk designation, Luckey has vocally supported the government’s stance. “At the end of the day,” Luckey wrote in a recent
