Anduril’s private valuation surged to $90 billion in an October 2026 employee tender offer at $94.80 per share, up 48% from the $61 billion post-money mark in its May Series H round that raised $5 billion. The company’s 2025 revenue of $2.2 billion is scaling rapidly amid major Department of Defense contracts, including up to $1.8 billion from the Army for Lattice AI software and $2.9 billion from the Navy for submarine components, reflecting strong demand for autonomous defense systems. Secondary-market marks have reached $113 billion on some platforms, while July reports noted potential primary financing discussions near $100 billion. With the tender closing November 9 and additional large-scale program awards expected, traders are monitoring revenue trajectory, contract backlog, and comparable defense-tech multiples as key variables influencing year-end valuation levels.