Palmer Lackey's defense technology company is in the midst of a multibillion-dollar funding round led by Thrive Capital and Andreessen Horowitz, according to a new report in the Wall Street Journal.
The funding round comes less than a year after the company's Series G closed in June at $2.5 billion at a valuation of $30 billion. Lux Capital and Founders Fund will also participate.
Bloomberg previously reported that the new round could bring in up to $8 billion to the company, which closed its last round of funding last summer.
The round comes at a troubling time for defense startups. Following a contract dispute between Anthropic and the Department of Defense, the US government is in the process of terminating all contracts with the AI company, and Secretary of Defense Hegseth has threatened to designate the company as a supply chain risk.
Although Mr Lackey does not explicitly support supply chain risk designations, he is a vocal supporter of the government's position. “At the end of the day, we have to believe that our imperfect constitutional republic is still good enough to run the country without entrusting the real instruments of power to billionaires and tycoons and their shadowy advisors,” Lackey wrote in a recent X post.