Anduril's recent employee tender offer, opened October 13 at a $90 billion valuation with shares priced at $94.80 and capped at $1.3 billion, serves as the dominant near-term reference point for trader sentiment ahead of the October 31 resolution. This secondary mark represents a sharp step up from the $61 billion post-money valuation in the May 2026 $5 billion Series H round led by Thrive Capital and Andreessen Horowitz. Supporting fundamentals include $2.2 billion in 2025 revenue, strong growth projections, and major defense contracts such as up to $1.8 billion from the U.S. Army and $2.9 billion from the Navy. Secondary market quotes have ranged higher in some platforms, but the tender provides the most visible, timely benchmark. The offer closes November 9, leaving limited additional catalysts before month-end.