Anduril Industries vs Shield AI: employee equity compared
Secondary market prices, valuation trajectory, equity structure, and liquidity outlook for employees choosing between Anduril Industries and Shield AI.
Anduril Industries
Defense technology — autonomous systems (Roadrunner, Ghost, Bolt), command software (Lattice), and counter-drone.
IPO possible 2026–2028 as scale builds. No confirmed timeline; tender offers may provide interim liquidity.
Government-contract stability; ISO/NSO options; longer liquidity timeline vs consumer tech
Shield AI
AI-powered autonomous defence platform; Hivemind AI pilot software flies F-16s and MQ-9 drones without GPS or comms.
Early-stage — IPO 4–6+ years away. High-risk, high-upside equity. Secondary indication near primary round valuation. Liquidity most likely via acquisition or late-stage tender.
Government-contract stability; ISO/NSO options; longer liquidity timeline vs consumer tech
Key differences for employees
Equity structure
Anduril Industries grants ISO/NSO with strike prices ranging from $110–$145 depending on your grant year. Shield AI grants ISO/NSO with strike prices from $10–$18.
Secondary market premium
The secondary market is pricing Anduril Industries at a +0% premium over its last primary round ($61B → $61B). Shield AI trades at +14% over its last round ($2.8B → $3.2B). A higher secondary premium signals stronger investor demand and potentially better near-term liquidity for employees looking to sell.
Revenue and growth
Anduril Industries runs at $2.2B ARR, growing +100% YoY (very fast). Shield AI runs at $0.2B ARR, growing +120% YoY (very fast). Revenue growth rate matters for equity because it drives the peer-multiple valuation — the method most correlated with exit multiples.
Liquidity timeline
Anduril Industries: IPO possible 2026–2028 as scale builds. No confirmed timeline; tender offers may provide interim liquidity.
Shield AI: Early-stage — IPO 4–6+ years away. High-risk, high-upside equity. Secondary indication near primary round valuation. Liquidity most likely via acquisition or late-stage tender.
Calculate your specific grant
Enter your actual shares, equity type, and strike price. PrivatePulse calculates your personal equity value at both companies using 4 independent methods.