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Defense technology company Palmer Luckey is in the middle of a multibillion-dollar funding round led by Thrive Capital and Andreessen Horowitz, according to New report from The Wall Street Journal.
The funding round will come less than a year after the company’s Series G, which Closed in June With a value of $2.5 billion against a valuation of $30 billion. Lux Capital and Founders Fund are also expected to participate.
Previous report from Bloomberg He said the new round could bring as much as $8 billion in capital to the company, which closed its previous financing round last summer.
The round comes at a critical moment for defense startups. Following a contract dispute between Anthropic and the Pentagon, the US government is canceling all of its contracts with the AI company, and Defense Secretary Hegseth has threatened to designate the company as a supply chain risk.
Although not explicitly endorsing supply chain risk profiling, Lucki has explicitly supported the government’s position. “At the end of the day,” Loki wrote. In X’s last post“You have to believe that our imperfect constitutional republic is still good enough to run the country without outsourcing real power to billionaires, corporations and their shadow advisors.”