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.

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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 ) .

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.