Applied Intuition negotiating a raise of at least $1.5 billion, pegging valuation near $30 billion

The raise and the price tag

Applied Intuition, which builds autonomy software for defense and industry, is in discussions to bring in at least $1.5 billion in fresh capital. People familiar with the negotiations said General Catalyst is leading the round and that the valuation would land near $30 billion before the new money, roughly twice the figure investors placed on the business in June 2025.

According to one individual, General Catalyst is expected to commit $250 million. The individuals shared details on condition of anonymity because the information is not public. Requests for comment to Applied Intuition went unanswered, and General Catalyst declined to comment.

What the business builds and recent deals

The company, started in 2017, builds automated operating systems and self-driving tech used in construction, trucking and defense. In recent months, it has signed agreements with Honda Motor Co., Saudi Arabia's AI firm Humain and HII, which is described as America's largest shipbuilder.

Revenue outlook and prior investors

For the 2026 fiscal year, one person said the company expects revenue of more than $560 million, up about 19 percent from $474 million the prior year. The same person said Applied Intuition anticipates total revenue surpassing $1 billion over 2027, then advancing to $1.8 billion in 2028.

Its previous round was co led by funds managed by BlackRock Inc. and Kleiner Perkins, with participation from Franklin Templeton, the Qatar Investment Authority, General Catalyst and others. The Information previously reported that the company had been evaluating funding offers.

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Why it matters for your portfolio

A pre cash valuation near $30 billion would push Applied Intuition into the top tier of late stage autonomy and defense software names. The trajectory one person outlined - crossing $560 million in fiscal 2026, moving past $1 billion during 2027 and hitting $1.8 billion in 2028 - provides a growth path investors can compare to private marks and public comps. With General Catalyst leading and having previously participated alongside BlackRock-managed funds, Kleiner Perkins, Franklin Templeton and the Qatar Investment Authority, the round also underscores ongoing appetite for defense and industrial automation plays.

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