Anduril opens employee share sale at roughly $90 billion valuation

Anduril employees have a new opportunity to turn their company shares into cash through a tender offer that would value the defense technology startup at roughly $90 billion. The company confirmed the offer to CNBC in its October 14, 2026 report. The sale gives employees access to a higher valuation than Anduril’s May funding round.

Founded in 2017, Anduril develops drones, augmented reality headsets and AI software for the U.S. government and allied governments. Its work spans physical defense equipment and software, making the employee share offer relevant beyond companies whose main products are consumer AI tools.

A fixed price and a limited sale window

Bloomberg reported on October 14 that participating employees can sell shares at $94.80 each, citing people briefed on the private terms. The tender is an offer to purchase stock employees already hold. That makes the per-share price the amount available to a participating seller for each share sold, rather than a new grant of employee stock.

The overall offer is capped at about $1.3 billion. That is the maximum size of the share purchase, not a completed sales total. The roughly $90 billion figure serves a different purpose: it describes the company valuation implied by the tender, not the cash employees would collectively receive.

The offer opened on October 13, 2026, and is scheduled to close on November 9, according to Bloomberg. Employees in 16 countries are eligible to participate, CNBC reported, citing Bloomberg. Eligibility gives those employees the option to take part; it does not establish how many will choose to sell.

Anduril closed a $5 billion funding round in May at a $61 billion valuation. The tender’s implied value is roughly $29 billion higher. But the transactions serve different purposes: May’s round was company financing, while the current offer concerns employees selling their existing shares. The higher valuation therefore accompanies an employee sale opportunity, rather than another announced $5 billion capital raise.