Anduril's $5 Billion Raise: How Silicon Valley Built a $61 Billion Defense Industrial Giant in Nine Years @anduriltech just closed the largest defense tech funding round in history. On May 13, 2026, Anduril raised $5 billion in Series H financing at a $61 billion valuation, led by Thrive Capital and Andreessen Horowitz. The valuation more than doubled in under a year from the $30.5 billion established in June 2025, when Founders Fund led a $2.5 billion Series G. Total capital raised now exceeds $11 billion. The revenue trajectory justifies the valuation leap. Anduril doubled revenue to $2.2 billion in 2025 and projects approximately $4.3 billion for 2026, another 100% year-over-year increase. That growth comes at a cost: the company expects an operating loss of roughly $1.2 billion in 2026, reflecting heavy upfront investment in Arsenal-1 manufacturing ramp and R&D. Anduril does not expect to turn profitable until 2030. This is a scale-before-margin bet, and the company @PalmerLuckey founded is rebuilding the defense industrial base at Silicon Valley speed. The contract portfolio validates the Pentagon's confidence. In March 2026, the U.S. Army awarded Anduril a 10-year enterprise contract with a ceiling of up to $20 billion, consolidating more than 120 separate procurement actions into a single framework - the largest single deal Anduril has landed. In May, the U.S. Space Force selected Anduril among 20 contractors for the Golden Dome space-based interceptor program, a $3.2 billion pool to develop missile defense prototypes by 2028. Anduril is also partnering with Palantir to develop Golden Dome's AI-powered command-and-control software, using its Lattice platform to process real-time data from satellites, drones, radar, and sensors to coordinate automated defense responses. Arsenal-1 is the physical proof that Anduril has crossed from software company to defense manufacturer. The hyperscale manufacturing facility in Ohio, with a final planned footprint of nearly 5 million square feet (with the first two phases spanning 1.7 million square feet), launched the production line for the YFQ-44A Fury Collaborative Combat Aircraft in March 2026. An autonomous wingman for the U.S. Air Force's CCA program, the Fury has already completed semi-autonomous flight testing at Edwards Air Force Base. Production lines for Roadrunner interceptors and Barracuda cruise missiles are slated to join the facility by the end of the year to achieve multi-line manufacturing. Furthermore, the Department of Defense has agreed to purchase more than 10,000 low-cost containerized cruise missiles (LCCM) over three years from a consortium including Anduril, which will provide its Barracuda-500M surface-launched cruise missiles. In nine years Anduril has grown from a startup founded by the former creator of Oculus into a defense platform valued at more than a tenth of Lockheed Martin's market cap. The difference is speed and architecture: the Lattice operating system, the autonomous Hivemind pilot, and hyperscale manufacturing running at consumer electronics pace rather than traditional defense timelines. The defense industrial base is being rewritten, and the authors are from Silicon Valley.