Anduril Industries is opting to stay private for now as CEO Brian Schimpf says soaring AI and defense company valuations make the current market an unfavorable environment for a public listing.
Anduril CEO Says Current AI Defense IPO Market Is Fueled by Hype On Thursday, speaking with CNBC's Julia Boorstin at the Allen & Co.
Sun Valley Conference, Schimpf said Anduril is focused on long-term shareholder returns rather than capitalizing on today's enthusiasm surrounding artificial intelligence and defense technology.
"We define a successful IPO as our investors got a good return three years from actually going out," Schimpf said.
"A bad time to do that is in the middle of a hype cycle.
