Anduril Industries CEO Palmer Luckey publicly thanked President Donald Trump on Monday after the president announced resumed U.S. weapons shipments to Ukraine, marking a significant policy shift for the defense technology executive’s company.
What Happened: “Thank you, Donald Trump!” Luckey wrote on X, responding to Trump’s declaration that the United States would send additional arms to help Ukraine defend against Russian attacks.
The president’s comments came during a meeting with Israeli Prime Minister Benjamin Netanyahu, where Trump stated: “We have to. They have to be able to defend themselves. They’re getting hit very hard. We’re going to have to send more weapons.”
According to the Wall Street Journal, Trump’s announcement represents the strongest indication yet that he has embraced strengthening Ukraine’s defenses after months of unsuccessful negotiations with Moscow.
Pentagon spokesman Sean Parnell confirmed late Monday that the Department of Defense would send additional defensive weapons “at President Trump’s direction.”
The weapons resumption follows a controversial pause in shipments that surprised the State Department, Congress, and Ukrainian officials.
The halted deliveries included Patriot antimissile interceptors, AIM-120 antiaircraft missiles, howitzer rounds, and GMLRS missiles for HIMARS rocket launchers, according to a WSJ report, which cited sources.
Why It Matters: Luckey’s company has significant exposure to Ukraine’s defense needs. The Southern California-based contractor disclosed in July that its autonomous weapons systems destroyed “hundreds of millions” worth of Russian military assets since deploying personnel and hardware just two weeks into the invasion.
Anduril recently raised $2.5 billion at a $30.5 billion valuation, more than doubling from last year’s $14 billion mark.
The defense sector has benefited from surging global military spending, which rose 9.4% to $2.72 trillion in 2024. The U.S. has provided $66.9 billion in military assistance to Ukraine since Russia’s 2022 invasion, with the last major package worth $1.22 billion approved in December under the Biden administration.
Trump told Ukrainian President Volodymyr Zelensky in a Friday phone call that he wasn’t responsible for the weapons halt, which came after a Pentagon munitions review following U.S. strikes on Iran’s nuclear sites, according to WSJ. The White House National Security Council will meet on Tuesday to discuss new weapons deliveries.
Defense stocks have rallied on increased military spending expectations, with analysts targeting RTX Corp. (NYSE:RTX) at $170 by year-end.
Other major contractors, including Lockheed Martin Corp. (NYSE:LMT) and Northrop Grumman Corp. (NYSE:NOC), stand to benefit from sustained defense demand driven by NATO budget increases and global tensions.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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