Anduril’s Trae Stephens says defense tech is headed for a shakeout
- Posted on June 5, 2026
- By Fortune
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- 1 min read
Anduril’s Trae Stephens says defense tech is headed for a shakeout
The Anduril co-founder warns that sky-high valuations, too much venture capital, and unrealistic expectations could drive much of the industry into collapse.