Anduril says its Pentagon wins are based on competition, not politics, after ethics questions over co-founder Palmer Luckey's links to the Trump administration. The company also set a $90 billion employee tender valuation.
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01Summary
- 01Anduril CEO Brian Schimpf said the company has done “incredibly well” under President Joe Biden and wins contracts “on the merits”.
- 02On 6 October, Anduril announced an up to $2.9 billion shipyard contract days after Palmer Luckey was named to a Department of Defense group called Project Meridian.
- 03Anduril won a multi-year Department of Defense contract worth up to $20 billion in March.
- 04This week Anduril opened an employee tender offer in 16 countries valuing the company at $90 billion, after a $60 billion valuation five months earlier.
- 05Schimpf said the company is focused on a “massive, unprecedented ramp” in defence production over the next couple of years.
02Why it matters
The story shows how closely watched defence-tech contracts are becoming as private firms win more government work. It also matters for staff and backers because Anduril is valuing itself higher while delaying any public listing.
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