Anduril Is a Hot Ticket Despite Burning More Than $800 Million in Cash
Wealthy individual investors are willing to pay nearly double the $30.5 billion valuation institutions got in Anduril’s last fundraising.
Defense tech company Anduril expects to burn through $800 million to $900 million in cash this year in an aggressive bid to win giant Pentagon contracts. Investors big and small are unperturbed, lining up to back the fast-growing seller of drones, missiles and border surveillance towers.
The company appears to be the most coveted stock in the private markets, with small investors on the secondary market willing to pay nearly double what institutions most recently paid. That’s a far higher premium than small investors are paying for shares of other popular private companies such as SpaceX or OpenAI. Demand for Anduril shares has soared in recent weeks as executives did the rounds of popular podcasts and discussed the company’s fast revenue growth.