Defense-technology company Anduril is reportedly in talks to raise a new round of funding that could value the company at roughly $100 billion.

The figure comes from Reuters, as reported by TechCrunch. According to that reporting, the potential $100 billion valuation would be more than three times the mark Anduril set just a year earlier — a steep jump over a short period.

The details available so far are limited. The reporting describes talks that are underway rather than a closed deal, and the roughly $100 billion figure is a target being discussed, not a confirmed final valuation.

Still, the scale of the reported increase is the headline. Tripling a valuation in a single year is unusual, and it points to strong investor appetite for the company as it seeks fresh capital.

Why it matters: a jump to a reported $100 billion valuation would place Anduril among the most valuable privately held companies in the defense sector, signaling how much money investors are willing to put behind next-generation defense technology.