---
title: "Shield AI revenue and valuation"
description: "Shield AI's revenue is estimated at $260M–$1.14B, last reported at $300M. Valued at $28.8B after raising $7.08B. Funding rounds and competitors."
url: https://www.tryspecter.com/revenue-valuation/shield-ai.md
canonical_url: https://www.tryspecter.com/revenue-valuation/shield-ai
publisher: Specter
last_updated: 2026-11-01
---

# Shield AI revenue and valuation

Specter estimates Shield AI's annual revenue at $260M to $1.14B and its valuation at $23.9B to $34.6B. The company last reported $300M revenue in December 2025 and was priced at $28.8B in November 2026.

Shield AI builds AI pilots and autonomy software for military aircraft and unmanned systems.

- Estimated revenue: $260M to $1.14B (October 2026)
- Estimated valuation: $23.9B to $34.6B (October 2026)
- Last reported revenue: $300M (December 2025)
- Total funding: $7.08B
- Founded: 2015
- Headquarters: San Diego, United States
- Employees: 1,948
- Sector: Defense
- Specter Rank: #41,835

## Shield AI revenue

Shield AI last reported $300M revenue in December 2025. Specter's model puts current revenue between $260M and $1.14B.

| Reported figure | Date | Source |
| --- | --- | --- |
| $300M revenue | December 2025 | [Shield AI took its drones from the 'Batcave' to the battlefield. Now the $5.6 billion defense-tech startup’s new CEO says it’s at an inflec…](https://fortune.com/2025/12/21/shield-ai-ukraine-defense-tech-gary-steele/) (fortune.com) |

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $540M | $260M | $1.14B |
| September 2026 | $530M | $260M | $1.06B |
| August 2026 | $470M | $260M | $850M |
| July 2026 | $460M | $270M | $770M |
| June 2026 | $440M | $260M | $740M |
| May 2026 | $430M | $270M | $680M |
| April 2026 | $420M | $290M | $610M |
| March 2026 | $410M | $300M | $570M |
| February 2026 | $350M | $270M | $450M |
| January 2026 | $350M | $280M | $440M |
| December 2025 | $350M | $290M | $420M |
| November 2025 | $300M | $90M | $500M |
| October 2025 | $290M | $83M | $500M |
| September 2025 | $230M | $71M | $390M |
| August 2025 | $200M | $76M | $320M |
| July 2025 | $196M | $68M | $320M |
| June 2025 | $220M | $65M | $370M |
| May 2025 | $183M | $66M | $300M |
| April 2025 | $176M | $56M | $300M |
| March 2025 | $189M | $56M | $320M |
| February 2025 | $147M | $68M | $230M |
| January 2025 | $142M | $57M | $230M |
| December 2024 | $146M | $60M | $230M |
| November 2024 | $149M | $56M | $240M |
| October 2024 | $170M | $51M | $290M |
| September 2024 | $180M | $53M | $310M |
| August 2024 | $182M | $43M | $320M |
| July 2024 | $200M | $57M | $350M |
| June 2024 | $180M | $61M | $300M |

## Shield AI valuation

Shield AI's valuation rose from $1.25B at its Series D in August 2021 to $28.8B at its Series H in November 2026. Specter's live estimate sits between $23.9B and $34.6B.

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $28.8B | $23.9B | $34.6B |
| September 2026 | $19.1B | $15.7B | $23.3B |
| August 2026 | $12.7B | $10.6B | $15.3B |
| July 2026 | $12.7B | $10.6B | $15.3B |
| June 2026 | $12.7B | $10.6B | $15.3B |
| May 2026 | $12.7B | $10.5B | $15.4B |
| April 2026 | $12.7B | $10.6B | $15.3B |
| March 2026 | $12.7B | $10.6B | $15.3B |
| February 2026 | $12.7B | $10.3B | $15.6B |
| January 2026 | $12.7B | $10.6B | $15.3B |
| December 2025 | $5.6B | $4.66B | $6.73B |
| November 2025 | $5.57B | $4.08B | $7.6B |
| October 2025 | $5.53B | $4.47B | $6.84B |
| September 2025 | $5.5B | $4.09B | $7.39B |
| August 2025 | $5.46B | $4.15B | $7.2B |
| July 2025 | $5.43B | $4.27B | $6.91B |
| June 2025 | $5.4B | $4.34B | $6.72B |
| May 2025 | $5.37B | $4.4B | $6.54B |
| April 2025 | $5.33B | $4.42B | $6.43B |
| March 2025 | $5.3B | $4.41B | $6.37B |
| February 2025 | $5.1B | $3.38B | $7.72B |
| January 2025 | $4.92B | $3.31B | $7.31B |
| December 2024 | $4.74B | $3.21B | $6.98B |
| November 2024 | $4.56B | $3.01B | $6.91B |
| October 2024 | $4.39B | $2.77B | $6.97B |
| September 2024 | $4.23B | $2.77B | $6.45B |
| August 2024 | $4.08B | $2.7B | $6.14B |
| July 2024 | $3.93B | $2.96B | $5.21B |
| June 2024 | $3.78B | $2.9B | $4.92B |

| Reported valuation | Month | Source |
| --- | --- | --- |
| $28.8B | November 2026 | Funding round |
| $12.7B | August 2026 | [news.crunchbase.com](https://news.crunchbase.com/venture/physical-ai-funding-startups-robotics-aerospace-h1-2026/) |
| $12.7B | July 2026 | [startupfortune.com](https://startupfortune.com/defense-tech-startups-have-raised-123-billion-in-2026-and-the-defense-primes-are-co-signing-the-bet/) |
| $12.7B | June 2026 | [geekwire.com](https://geekwire.com/955483/shield-ai-selects-seattle-area-to-build-x-bat-autonomous-fighter-jet-plans-to-add-4000-jobs-by-early-2030s/) |
| $12.7B | April 2026 | [finsmes.com](https://www.finsmes.com/2026/04/shield-ai-raises-2b-in-series-g-funding-acquires-aechelon.html) |
| $12.7B | March 2026 | Funding round |
| $12.7B | January 2026 | [tradingview.com](https://www.tradingview.com/news/reuters.com,2026:newsml_L4N40E0WC:0-defense-technology-startup-shield-ai-valued-at-12-7-billion-in-latest-funding-round/) |
| $5.6B | December 2025 | [fortune.com](https://fortune.com/2025/12/21/shield-ai-ukraine-defense-tech-gary-steele/) |
| $5.3B | March 2025 | Funding round |
| $2.8B | October 2023 | Funding round |
| $2.3B | December 2022 | Funding round |
| $2.3B | June 2022 | Funding round |
| $1.25B | August 2021 | Funding round |

## Shield AI funding rounds

| Date | Round | Raised | Post-money | Lead investors |
| --- | --- | --- | --- | --- |
| 5 Nov 2026 | Debt financing | $500M | Undisclosed | Undisclosed |
| 5 Nov 2026 | Series H | $2B | $28.8B | InnovationX, Blackstone, Disruptive |
| 5 Nov 2026 | Series H | $1B | $28.8B | Disruptive, Innovation X Advisors |
| 26 Mar 2026 | Series G | $2B | $12.7B | Advent International, JPMorganChase |
| 26 Mar 2026 | Debt financing | $250M | Undisclosed | Blackstone |
| 15 Oct 2025 | Series F | $20M | Undisclosed | Washington Harbour Partners |
| 6 Mar 2025 | Series F | $240M | $5.3B | L3Harris Technologies, Hanwha Aerospace |
| 29 Dec 2023 | Debt financing | $200M | Undisclosed | Hercules Capital |
| 31 Oct 2023 | Series F | $300M | $2.8B | Riot Ventures, US Innovative Technology Fund |
| 13 Dec 2022 | Series E | $60M | $2.3B | US Innovative Technology Fund |
| 9 Jun 2022 | Series E | $90M | $2.3B | Snowpoint Ventures |
| 9 Jun 2022 | Debt financing | $75M | Undisclosed | Undisclosed |
| 24 Aug 2021 | Series D | $210M | $1.25B | Disruptive |
| 23 Feb 2021 | Debt financing | $20M | Undisclosed | Undisclosed |
| 23 Feb 2021 | Series C | $70M | Undisclosed | Point72 Ventures |
| 20 Aug 2019 | Series B | $25M | Undisclosed | SVB Capital |
| 22 Dec 2018 | Series A | $10M | Undisclosed | Breyer Capital |
| 3 Apr 2017 | Series A | $10.5M | Undisclosed | Andreessen Horowitz |
| 31 May 2016 | Seed | $2.05M | Undisclosed | Undisclosed |
| 1 Oct 2015 | Angel | $595K | Undisclosed | Undisclosed |

## Shield AI vs competitors

The military autonomy market splits between full-stack hardware manufacturers and software-focused intelligence providers.

| Company | Estimated revenue | Estimated valuation |
| --- | --- | --- |
| Shield AI | $260M–$1.14B | $23.9B–$34.6B |
| Anduril Industries (anduril.com) | $1.36B–$6.88B | $74.9B–$108B |
| Kratos Defense and Security Solutions (kratosdefense.com) | $1.63B–$2.6B | $3.08B–$9.87B |
| AV (avinc.com) | $1.58B–$2.29B | $2.68B–$9.84B |
| General Atomics Aeronautical Systems (ga-asi.com) | $1.18B–$4.8B | $1.78B–$8.71B |

## Questions

### What is Shield AI's revenue?

Specter estimates Shield AI's annual revenue at $260M to $1.14B as of October 2026. Shield AI last reported $300M revenue in December 2025.

### What is Shield AI's valuation?

Shield AI's latest post-money valuation is $28.8B, from a November 2026 Series H. Specter's live estimate is $23.9B to $34.6B.

### What is Shield AI's revenue multiple?

Shield AI is valued at about 96× revenue, based on its $28.8B November 2026 valuation and $300M last reported revenue. That works out to roughly $154K of revenue per employee.

### How much funding has Shield AI raised?

$7.08B across 20 rounds, from a $595K Angel in October 2015 to a $500M debt financing in November 2026.

### Who invested in Shield AI?

37 investors, including Advent International, Blackstone, Disruptive, Innovation X Advisors, InnovationX and JPMorganChase.

### Who are Shield AI's competitors?

Anduril Industries, Kratos Defense and Security Solutions, AV and General Atomics Aeronautical Systems. Specter ranks 30 competitors for Shield AI.

## About this data

Specter models revenue and valuation monthly and anchors each estimate to reported figures and priced rounds. Method: https://www.tryspecter.com/revenue-valuation

Cite as: Specter. "Shield AI revenue and valuation." tryspecter.com/revenue-valuation/shield-ai. Updated November 2026.