Shield AI Plans to Raise More Than $1 Billion to Build Its X-BAT Fighter
The planned financing would pay for manufacturing an AI-piloted fighter that has not flown, while Navy development payments stay tied to milestones.
The planned financing would pay for manufacturing an AI-piloted fighter that has not flown, while Navy development payments stay tied to milestones.
Shield AI plans to raise more than $1 billion to fund production of its X-BAT autonomous fighter, CEO Gary Steele said Tuesday at the Bloomberg Tech event in London. The company also intends to make further acquisitions.
Frequently Asked Questions
How much does Shield AI plan to raise?
More than $1 billion, likely at the beginning of next year, CEO Gary Steele said at the Bloomberg Tech event in London on Nov. 3. His reported remarks named no investors or valuation.
What would the money pay for?
Production of X-BAT, an AI-piloted fighter designed to take off and land vertically without a runway. Steele also said the company will make further acquisitions.
Has X-BAT flown?
No. Armor Harris of Shield AI told Defense One that flight testing would start at the end of this year and go straight to vertical takeoff and landing tests.
How much has already been committed to X-BAT?
$400 million in announced public and private commitments, including a $150 million Navy modification on Oct. 8 that Shield AI matched, the company said.
When would production start?
Shield AI said Sept. 30 that production at Des Moines, Washington, would begin in 2029, with full rate in the early 2030s.
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Marcus Schuler
Marcus Schuler edits BattlePolicy, a daily defense-technology brief connecting the companies and capabilities behind modern war to the contest among Europe, the US, Russia, and China.