Anduril CEO Palmer Luckey Confirms IPO Plans To Compete For Trillion-Dollar Defense Contracts: 'We Are Definitely Going To Be A Publicly Traded...'

Defense tech giant Anduril Industries will pursue a public offering, as CEO Palmer Luckey confirmed the company’s initial public offering plans during an interview.

What Happened: “We are definitely going to be a publicly traded company,” Luckey told CNBC. He emphasized that Anduril is “running this company to be the shape of a publicly traded company,” citing the necessity for public status to compete for massive defense contracts.

Luckey specifically referenced potential trillion-dollar programs like the F-35 Joint Strike Fighter, stating, “there’s not really a path to a company like Anduril winning things in the shape of let’s say a trillion dollar F-35 joint strike fighter contract as a private company.”

The IPO confirmation comes as Anduril reaches new valuation heights. The Southern California-based defense contractor recently raised $2.5 billion at a $30.5 billion valuation, more than doubling from last year’s $14 billion mark. Founders Fund, backed by billionaire Peter Thiel, led the round with a record $1 billion commitment.

Why It Matters: Anduril specializes in autonomous defense systems, including drones, battlefield software, and AI-powered military wearables. The company operates Arsenal-1, its Columbus, Ohio, manufacturing facility designed for rapid mass production of aerial and maritime drones.

Recent partnerships underscore Anduril’s market positioning. The company partnered with Meta Platforms Inc. META to develop AI-enabled combat headsets and joined a consortium with Palantir Technologies Inc. PLTR targeting the $850 billion U.S. defense budget.

The group includes discussions with SpaceX and OpenAI to challenge traditional contractors like Lockheed Martin Corp. LMT and RTX Corp. RTX.