Defense Startup Shield AI Nabs $2 Billion at $12.7 Billion Value

Shield AI has raised $2 billion at a valuation of $12.7 billion, more than doubling its value from a year ago, underscoring investor demand for defense technology and artificial intelligence.

Advent International and the Strategic Investment Group of JPMorgan Chase & Co.’s Security and Resiliency Initiative co-led a $1.5 billion Series G funding round, the startup said in a statement on Thursday. Funds managed by Blackstone Inc. are investing another $500 million in preferred equity financing. The valuation includes the money raised.