Anduril CEO says it's bad to IPO in 'middle of a hype cycle'

Anduril CEO says it's bad to IPO in 'middle of a hype cycle'. Anduril’s CEO Brian Schimpf told CNBC’s Julia Boorstin at the Allen & Co. Sun Valley Conference on Thursday that the defense-technology company is not in a rush to go public. He said a “successful IPO” means investors receive a good return three years after the company lists, and that launching “in the middle of a hype cycle” would be a poor time. The remarks come as demand for defense products and services rises, with the defense budget projected to reach $1.5 trillion. Schimpf also pointed to a tepid IPO market despite SpaceX’s record offering last month, noting SpaceX shares have fallen about a quarter from a third-day high of $201.80 and trade just above the $150 opening price. Anduril, which doubled its valuation in May to $61 billion, makes drones and AI-powered weapons, while OpenAI and Anthropic have confidentially filed for IPOs without timelines.