SpaceX, Palantir, Anduril Power The Golden Dome Defense Push

Forbes

2 days ago

Potential Golden Dome Space Initiative
A new kind of arms race is underway—not for nuclear stockpiles or territorial conquest, but in the contested domains of artificial intelligence, autonomous systems, and space-based defense. With rising threats ranging from hypersonic missiles to rogue-state satellite programs, the United States is laying the foundation for what could be the most ambitious defense upgrade in decades: a next-generation missile shield known informally as the 'Golden Dome.'
This emerging infrastructure—designed to detect and intercept airborne threats in real time using a constellation of satellites and AI-driven command platforms—is being shaped by a growing coalition of public and private innovators. Among the most prominent are SpaceX and Anduril Industries—both privately held—along with Palantir Technologies, a public company. Together, this triad is helping to define the future of national security architecture. The presence of such influential yet privately controlled firms underscores a key challenge: much of the groundbreaking innovation in defense is now happening outside the reach of traditional public markets.
Historically, retail investors have been excluded from participating in the private companies driving these breakthroughs—despite the fact that many of these firms experience their most significant growth while still private. This raises an important structural question: how can individual investors gain exposure to these high-growth sectors before an IPO? One example of a fund aiming to address this gap is the XOVR ETF, which includes both public and select private companies in its portfolio. Managed by ERShares, the fund holds positions in SpaceX—currently its largest private holding—and, more recently, Anduril. While access to private firms remains limited, structures like this offer a new approach to bridging the divide between public markets and early-stage innovation.
Unlike legacy missile defense systems, which rely heavily on ground-based radars and static interceptor platforms, the Golden Dome is designed for mobility, scale, and rapid response. The concept involves deploying hundreds of low-Earth orbit satellites, backed by terrestrial and edge-based AI systems, to form a real-time surveillance and defense grid capable of neutralizing threats in seconds.
Estimates suggest this system could command over $175 billion in long-term defense spending. With the U.S. Department of Defense emphasizing rapid procurement and modernization, the initiative has shifted from concept to reality far faster than previous military-industrial efforts.
Anduril Industries, founded by Oculus VR creator Palmer Luckey, exemplifies the next wave of defense tech startups. Combining Silicon Valley speed with mission-first hardware development, Anduril has quickly grown into a major defense player through its Lattice OS platform—an integrated operating system that fuses sensor data across drones, towers, and autonomous vehicles in real time.
Less visibly, Anduril also reflects a broader trend: the emergence of a 'Palantir diaspora' in the national security ecosystem. Several of Anduril's co-founders and early engineers previously worked at Palantir, and the company continues to attract top-tier talent from its orbit. This growing network of Palantir alumni has seeded a dense cluster of growth-stage firms across aerospace, cyber, and battlefield AI—contributing to a broader acceleration in U.S. defense innovation.
Anduril is currently involved in multiple high-priority U.S. military initiatives, including the Army's TITAN program and the space-based Golden Dome framework. Its role in edge computing and autonomous threat identification is expected to grow in parallel with rising defense procurement in AI and robotics.
Palantir Technologies (NYSE: PLTR) has quietly become one of the most critical software providers to the U.S. government. Its Gotham and Foundry platforms are now embedded across intelligence agencies, defense contractors, and frontline military units, enabling everything from logistics coordination to real-time battlefield analytics.
In both the TITAN and Golden Dome initiatives, Palantir is providing the core artificial intelligence models used to ingest, organize, and act upon vast data flows. These systems are not just reactive—they are predictive, capable of flagging anomalies and modeling threat trajectories before they materialize.
Palantir's strategic value has not gone unnoticed in financial markets. Since the end of 2022, it has been one of the top performers in the Russell 1000 Growth Index, with its stock rising more than 1,950%—second only to Applovin (+3600%), another key AI-driven firm that has also seen substantial gains over that period. The surge in these names underscores investor conviction in the long-term role of software intelligence in both defense and commercial sectors.
Perhaps no company is better positioned to deliver the orbital backbone of the Golden Dome than SpaceX. With its reusable Falcon launch system and Starlink satellite network, SpaceX has the technological and logistical capabilities to deploy and maintain the hundreds of satellites envisioned in the program's first phase.
What makes SpaceX's involvement especially noteworthy is the shift in its strategic identity—from a private aerospace firm to a core U.S. defense asset. The company's satellites are expected to provide not only persistent surveillance but also secure, encrypted communications and early warning detection across global theaters.
SpaceX remains privately held, but its impact on both commercial and government space sectors has been transformative. Its expanding role in U.S. national defense is now considered as critical as its launch dominance.
The convergence of public equities like Palantir and Nvidia with private firms such as Anduril and SpaceX reflects a broader shift in U.S. industrial policy. No longer confined to traditional contractors, the innovation engine in defense now runs through a hybrid pipeline of startups, growth-stage firms, and crossover investment vehicles.
Retail investors, until recently, have had almost no ability to access firms like SpaceX and Anduril prior to their IPOs. That paradigm is beginning to shift. With new vehicles such as crossover ETFs, there is a growing effort to offer partial access to companies that have historically been out of reach. These developments mark a potential turning point in how retail capital intersects with national security innovation.
The Golden Dome is more than a missile defense system. It is a test case for how national security, technological innovation, and capital markets can align in a new era of geopolitical competition. As companies like Anduril, Palantir, and SpaceX help define this frontier, they are not only reshaping defense—they are also redefining how innovation is capitalized, scaled, and accessed by the broader investing public.
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Additional Disclosure Note: The author has an affiliation with ERShares and the XOVR ETF. The intent of this article is to provide objective information; however, readers should be aware that the author may have a financial interest in the subject matter discussed. As with all equity investments, investors should carefully evaluate all options with a qualified investment professional before making any investment decision. Private equity investments, such as those held in XOVR, may carry additional risks—including limited liquidity—compared to traditional publicly traded securities. It is important to consider these factors and consult a trained professional when assessing suitability and risk tolerance.