Shield AI is discussing a new funding round that would value the San Diego-based defense technology company at $20 billion or more, roughly 60% above its $12.7 billion post-money valuation after a $2 billion Series G round closed in March 2026. The March financing included $1.5 billion in equity and $500 million in preferred equity. Shield AI projects 2026 revenue will surpass $540 million, representing growth of more than 80% from the previous year. The company’s Hivemind autonomy platform enables drones and aircraft to fly, navigate and conduct missions without GPS. The US Air Force awarded Shield AI a production contract in June 2026 to integrate Hivemind into its Collaborative Combat Aircraft program. Shield AI also builds the V-BAT vertical takeoff and landing drone, which is deployed by multiple branches of the US military, and is developing the X-BAT combat aircraft for autonomous swarms. In September 2026, it signed a letter of intent with Polish defense firms PGZ and WZL-2 covering potential X-BAT development and licensing. A separate licensing agreement with L3Harris gives Shield AI access to additional counter-UAS programs and customers through the defense contractor’s distribution network.