Defence-manufacturing startup Hadrian has raised a $1.37bn Series D at a $7.87bn valuation, nearly five times its January price, with JPMorgan anchoring.

The defense startup plans to expand its workforce from 700 to 2,000 as well as open three more AI-power factories across the United States.

"Being able to produce — and have advanced factories — is deterrence," CEO Chris Power told Axios.