American defense technology startup Anduril is in talks for a new round of funding worth several billion dollars.

According to informed sources, the U.S. defense technology startup Anduril is in talks for a new round of funding of tens of billions of dollars, with a post-investment valuation of at least $60 billion. This valuation is nearly double the level when it last raised private funding in June of last year. This round of funding will provide the company with more capital to construct its first large weapon manufacturing factory and to develop autonomous combat drones. With contracts signed with the U.S. Department of Defense and allies, the company's revenue is expected to double to around $2 billion last year, but at the same time it is also consuming a lot of cash. This eight-year-old startup, founded by former Palantir employees and virtual reality entrepreneur Palmer Luckey, has raised billions of dollars over the years to develop or acquire more modern software, drones, and submarines in order to compete for government orders. The Trump administration's favorable attitude towards defense contractors focused on technology bodes well for Anduril; at the same time, the government is pushing Anduril's larger and older competitors to reduce stock repurchases and speed up weapon delivery.