Shield AI, a developer of autonomous defence software and unmanned aircraft, is in talks that would value the company at a minimum of $20 billion, according to The Information.
If the round closes at or above that figure, it would mark a rise of roughly 57% on the $12.7 billion valuation the company secured in March 2026.
That earlier round raised $2 billion, following $240 million raised at a $5.3 billion valuation a year before in March 2025.
The rapid climb reflects growing investor appetite for defence-focused artificial intelligence and autonomy businesses.
What drives the business
Shield AI's growth has been driven by two products: its Hivemind autonomy platform, which allows aircraft to operate without human pilots or GPS, and its V-BAT tactical aircraft, which takes off and lands vertically.
Reporting this year indicated that V-BAT accounted for a meaningful share of revenue, as the company projected sales of roughly half a billion dollars for 2026.
Contracts and expansion
Operational wins have included a US Coast Guard contract for maritime intelligence, surveillance and reconnaissance, alongside export sales to allied militaries.
The company has also used recent funding to expand beyond hardware into simulation and training software.
