A groundbreaking initiative combining augmented (AR) and virtual (VR) reality technologies is underway as Anduril, a startup founded by Palmer Luckey, embarks on developing and manufacturing a mixed reality headset for the US military. The company will oversee the production process and the development of both hardware and software for the Integrated Visual Augmentation System (IVAS) project. Under this agreement, Microsoft $MSFT Azure has been designated as the preferred hyperscale cloud solution to support the technological workloads of IVAS and Anduril AI.

Anduril Industries, a defense technology startup leveraging artificial intelligence, is in discussions for a new funding round that could increase its valuation to an impressive $28 billion. Founded by Palmer Luckey, the company is garnering substantial attention from investors, underlining its rapid growth in the defense sector.

Tech company Anduril is setting its sights on a significant market expansion within the defense industry. According to reports, the startup is in negotiations to secure up to $2.5 billion in fresh capital, which could potentially double its valuation to $28 billion. A preliminary agreement for a funding round further underscores the company's ambition and prospects for substantial growth.