Defense Startup Anduril Valued at $61 Billion, Rivals Traditional Military Contractors

Anduril Industries raised $5 billion in funding and is now valued at $61 billion, positioning the startup to compete directly with legacy defense companies like Lockheed Martin. The company builds military systems that use artificial intelligence and can move faster than traditional government contracting cycles. Investors see an opportunity for venture-backed firms to capture significant share of the defense market, which is worth hundreds of billions annually.