Latest news with #Luckey
Time of India
3 days ago
- Business
- Time of India
US military hardware maker Anduril's founder Palmer Luckey on possibility of American-made PCs: ‘I think there's a chance…'
Image credit: X (Twitter) US military hardware maker Anduril 's founder, Palmer Luckey , has recently teased the possibility of the company producing American-made PCs . This week, while talking at the 'Reindustrialize Summit' in Detroit, US, Luckey said, 'I think there's a chance that it's going to be Anduril.' He also noted that conversations about this PC-making initiative began years ago. He added that Anduril has engaged with 'everyone you would need to have to do that,' including individuals "on the chip side, on the assembly side, on the manufacturing side." Despite these discussions, Luckey is not entirely committed to the effort as he also told the audience that "there are some things Anduril has to do," while "there are other things we'd rather have other people do. This is something I'd rather have other people do." However, he didn't share a potential name for the computer but suggested that it would be "pro-American, and also a gambling reference." It's important to note that the concept of American-made computers is not new. For example, PC manufacturer Dell operated several manufacturing plants across the US before closing its North Carolina plant in 2009 and shifting to an international manufacturing partner in Poland. Anduril will not build its own humanoid robot: Palmer Luckey by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Doctors Beg: Take These 4 Ingredients Before Bed to Burn Fat The Healthy Way Learn More Undo At the event, Luckey spoke to the audience both virtually and through a humanoid robot developed by a company named Foundation. Sharing a post on X, he wrote: "I finally pulled off my long-standing goal of speaking at a conference via VR telerobotics! Thousands of miles of travel saved, and no chance of Luigi." He clarified that Anduril does not plan to create its own humanoid robot as well: 'We're going to partner with other companies where it makes sense.' Founded by Luckey in 2017, Anduril develops US military hardware such as drones, underwater submersibles, and an AI-driven software platform called Lattice. The company is also collaborating with Meta on extended reality headsets and other wearable devices for military use—a partnership which was announced in May. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
5 days ago
- Business
- Yahoo
Anduril receives $310 million state grant to build drones, weapons in central Ohio
COLUMBUS, Ohio (WCMH) — JobsOhio, the state's private economic development organization, awarded Anduril Industries $310 million to help build its hyperscale drone manufacturing facility. JobsOhio announced on Wednesday that it is giving a 30-year grant to Anduril to fund the defense company's major investment in Ohio. In the grant agreement, Anduril promised to create 4,008 Ohio jobs by 2035, with workers contributing to a new drone and military vehicle manufacturing facility near Rickenbacker International Airport in Pickaway County. See previous coverage in the video player above. JobsOhio said Anduril agreed to generate a payroll of more than $530 million and at least $910.5 million in capital investments. According to the agreement, Anduril must meet these goals in the next 10 years and sustain them for the following 20 years to keep the funding. Anduril said the average salary for workers will be just over $132,305 annually, although it did not provide the median salary. Ohio House will return this month to consider property tax provision veto overrides The $310 million grant was exceptionally large, more than double JobsOhio's funding for Intel. Intel, which also received more than $2 billion in incentives from Ohio and New Albany, was the previous title holder for 'largest job creation investment' in Ohio before Anduril took the stage. Anduril Founder Palmer Luckey said he anticipates a lot of jobs going to Ohioans and a lot of people moving into Ohio to work at the defense manufacturing facility. As Intel mulls 20% layoffs, Anduril is looking for new employees. In March, Luckey told JobsOhio he anticipates recruiting people who work or intended to work for Intel as part of the natural competition between companies. These jobs will support Arsenal-1, the name given to Anduril's Ohio facility. The manufacturing operation will create drones and other national security defense systems to help 'America Rebuild the Arsenal.' The project will produce tens of thousands of autonomous weapons systems to be used by the U.S. military and its allies. In June, Anduril's vice president said it is already supplying autonomous weapons to the U.S. and allies like Ukraine, with more to come once Ohio's factory is operational. Arsenal-1 will be a 500-million-square-foot facility in Pickaway County, generating an estimated $2 billion annually for Ohio. First announced in January, it is set to open in July 2026. Honda plant in Marysville faces lawsuit over unpaid time The grant is on top of a Job Creation Tax Exemption Anduril was approved for in January. The tax credit is valued at an estimated $452.2 million. Anduril also receives significant funding from venture capitalist Peter Thiel, which bankrolled the start up in 2017. Last month, Thiel's Founders Fund gave Anduril $1 billion. Anduril will expand Ohio's military economy, with the Buckeye State bringing in $23 billion annually in military and federal spending, per JobsOhio. The market is not without its critics; Anduril was dubbed 'America's most controversial startup' in Bloomberg in 2019. The title stemmed from its interest in computer-operated weapons, or weaponry largely operated by AI, which is expected to be built in Ohio and opponents say raises serious ethical concerns. Luckey said Anduril must help the U.S. and allies prepare for potential threats, encouraging other private companies to take up the helm alongside him. He told JobsOhio he was concerned to hear the U.S. would run out of munitions within eight days in a hypothetical war with China, citing 2024 projections by the House Select Committee on the Chinese Communist Party. 'We need to move quickly, we need to take targeted risks and we need to get more companies into defense manufacturing, and that includes companies that are not currently defense companies,' Luckey said of U.S. military investments. Luckey hopes Ohio and Arenal-1 will help fix this problem, adding it is the reason behind Anduril's ambitious timeline, hoping to open in one year. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Insider
5 days ago
- Business
- Business Insider
Anduril founder Palmer Luckey wants to make computers American again
Palmer Luckey teased the idea of Auduril manufacturing American-made computers. Luckey joined the Reindustrialize Summit in Detroit virtually. The Anduril founder also emphasized the importance of working with partners to build tools. "This is one of those things where I started talking to companies years ago about this," Luckey said. "I think there's a chance that it's going to be Anduril." Luckey added that Anduril has held conversations with "everyone you would need to have to do that," including people "on the chip side, on the assembly side, on the manufacturing side." Anduril doesn't yet make computers, and Luckey isn't completely sold on the effort. He told the crowd: "There are some things Anduril has to do," he said. "There are other things we'd rather have other people do. This is something I'd rather have other people do." American-made computers aren't a novel concept. PC-maker Dell had several manufacturing plants throughout the US, but in 2009, it closed its North Carolina plant and announced a change to its international manufacturing partner, moving from Ireland to Poland. Luckey, who addressed the crowd virtually and with a humanoid robot from Foundation, also added that Anduril will not build its own humanoid robot: "We're going to partner with other companies where it makes sense," he said. Anduril, which was cofounded by Luckey in 2017, makes hardware for the US military, including drones and underwater submersibles, and an AI-powered software platform, Lattice. The company is also working on extended reality headsets and other wearables for the military in a partnership with Meta, which the companies announced in May. Luckey declined to share what he would name the computer if he were to make it, but hinted that "it's pro-American, and also a gambling reference, but I'll leave it at that."
Business Insider
5 days ago
- Business
- Business Insider
Anduril founder Palmer Luckey wants to make computers American again
Anduril, the defense tech giant that makes weapons and military products, could produce American-made computers, founder Palmer Luckey announced at the Reindustrialize Summit, a conference about modernizing American manufacturing, in Detroit on Thursday. "This is one of those things where I started talking to companies years ago about this," Luckey said. "I think there's a chance that it's going to be Anduril." Luckey added that Anduril has held conversations with "everyone you would need to have to do that," including people "on the chip side, on the assembly side, on the manufacturing side." Anduril doesn't yet make computers, and Luckey isn't completely sold on the effort. He told the crowd: "There are some things Anduril has to do," he said. "There are other things we'd rather have other people do. This is something I'd rather have other people do." American-made computers aren't a novel concept. PC-maker Dell had several manufacturing plants throughout the US, but in 2009, it closed its North Carolina plant and announced a change to its international manufacturing partner, moving from Ireland to Poland. Luckey, who addressed the crowd virtually and with a humanoid robot from Foundation, also added that Anduril will not build its own humanoid robot: "We're going to partner with other companies where it makes sense," he said. Anduril, which was cofounded by Luckey in 2017, makes hardware for the US military, including drones and underwater submersibles, and an AI-powered software platform, Lattice. The company is also working on extended reality headsets and other wearables for the military in a partnership with Meta, which the companies announced in May. Luckey declined to share what he would name the computer if he were to make it, but hinted that "it's pro-American, and also a gambling reference, but I'll leave it at that."
Business Insider
11-07-2025
- Business
- Business Insider
The executives behind Palmer Luckey's new digital banking startup Erebor include banking, Big Law, and tech vets
Palmer Luckey, CEO of defense tech giant Anduril Industries, is quietly building a new digital banking venture — and we now know more about who will be helping him. The startup, Erebor, is raising $225 million at a $2 billion valuation, Business Insider reported in July. It has backing from Peter Thiel's Founders Fund and Joe Lonsdale's 8VC. It filed for a national bank charter in June, and will serve clients like crypto companies and startups — a niche once occupied by Silicon Valley Bank. While little has been publicly revealed about Erebor so far, documents obtained by Business Insider shed some light on the team behind it. Luckey and four cofounders — Trevor Capozza, Jacob Hirshman, Aaron Pelz and Owen Rapaport — are at the helm, according to a fundraising memo that described the company's leadership and plans. Hirshman and Rapaport are listed as co-CEOs of Erebor, per the memo. Three other executives — chief risk officer Joshua Rosenberg, chief financial officer Ricky Grant, and chief credit officer Vlad Dubinsky — have backgrounds in banking and bank regulation, and their involvement with the company hasn't previously been reported. A banking lawyer at Skadden who appears on Erebor's bank charter application and is listed as its spokesperson didn't respond to a request for comment. Here's what we know about the names. Founder: Palmer Luckey Luckey is the founder of Erebor, according to the memo. He previously cofounded Anduril, a defense tech company that makes AI-powered autonomous military systems, in 2017. Founders Fund led the latest Anduril round — a $2.5 billion fundraise at a $30.5 billion valuation — with a $1 billion investment, the largest check the firm has ever written, Tech Crunch reported in June. Before Anduril, Luckey launched Oculus, a virtual reality company, when he was 19. He sold it to Facebook, now Meta Platforms, for $2 billion in cash and stock in 2014. In 2016, Luckey was fired from Meta after donating $10,000 to a pro-Donald Trump group. Meta and CEO Mark Zuckerberg have denied that Luckey left over his politics. Anduril partnered with Meta in May to make headsets and wearable devices for the military. Luckey didn't respond to requests for comment. Co-Founder: Trevor Capozza Capozza is listed as a cofounder of Erebor in the memo. His LinkedIn profile says he is a cofounder of a "stealth startup," a term used to describe a company before it has officially launched. He serves as the head of operations of Luckey's family office, according to LinkedIn. Capozza began his career at Optimozo, a private company, where he did asset management, his LinkedIn profile shows. His name has appeared in tax forms filed by a Luckey-linked nonprofit, the Pacific Treasure Foundation, as well as in registration paperwork for a virtual-reality news website, a firm called Trisolaris LLC, and another business called Project Passive LLC. Capozza declined to comment. President: Michael Hagedorn Hadegorn is Erebor's president, his LinkedIn shows. According to his profile, the fintech startup "seeks to revolutionize banking services for the innovation economy." Hadegorn has held executive positions at UMB Financial Corporation and Valley National Bank. He started his career at Wells Fargo, where he worked for nearly 17 years. At Wells Fargo, Hagedorn led the Midwest banking group for five years, his LinkedIn profile shows. Hagedorn didn't respond to a request for comment. Co-Founder/Co-CEO: Owen Rapaport Rapaport is listed as a co-founder and co-CEO of Erebor focused on "product, credit, and customer success," the memo says. Before joining Erebor, Rapaport cofounded and served as CEO at crypto-monitoring company Aer Compliance, which merged with StarCompliance in 2024. Before that, he worked at Electrum, a bitcoin wallet company, and was a consultant at Bain & Company, according to his LinkedIn. Rapaport didn't respond to a request for comment. Co-Founder/Co-CEO: Jacob Hirshman Hirshman is listed as a cofounder and co-CEO of Erebor and is focused on "sales, marketing, and regulatory" work, the memo says. Hirshman's LinkedIn profile lists him as a cofounder of a "stealth startup." Hirshman works at stablecoin issuer Circle, which debuted on the New York Stock Exchange in early June, as an advisor, according to his LinkedIn. Before that, Hirshman spent almost a year as an associate at Sullivan & Cromwell after graduating from law school at the University of Pennsylvania, his LinkedIn profile says. Hirshman declined to comment. Pelz is listed as a cofounder and chief technology officer of Erebor, according to the memo. He previously worked at Pinwheel, a fintech startup, where he led engineering, according to his LinkedIn, which says he left the company in March. Pelz previously worked in software engineering at Quorum, which makes public affairs software. Pelz didn't respond to a request for comment. Ricky Grant is listed as Erebor's chief financial officer, according to the memo. He spent nearly two years at Customer Bank, a fast-growing Philadelphia bank, as its head of investor relations and strategic finance, according to his LinkedIn profile. Customers Bank was faulted by the Federal Reserve in 2024 over shortfalls related to crypto risks. The bank's CEO said it has since spent millions of dollars to come into compliance. The American Banker reported that it holds dollar-denominated deposits for large crypto exchanges and has a large venture lending portfolio. Before working at Customers, Grant worked in investment banking for JP Morgan Chase and Goldman Sachs, according to his LinkedIn profile. Goldman listed him in its managing director class of 2019. He didn't respond to requests for comment. Chief Risk Officer: Joshua Rosenberg Rosenberg listed on his LinkedIn that he is working with Erebor after completing a nearly two-year stint at United Texas Bank, a Dallas financial institution that is a key cog in the crypto business. His LinkedIn and the memo describe him as Erebor's chief risk officer. He joined United Texas Bank in 2023 after a 22-year career at the Federal Reserve Bank of New York. In April, The Information reported that Rosenberg was brought on by UTB to "beef up" its compliance efforts amid regulatory scrutiny from the Federal Reserve over its crypto-related activity. Previously, Rosenberg was an assistant finance professor at the NYU Stern School of Business, according to his LinkedIn. He has a Ph.D. in economics from the University of California San Diego. Chief Credit Officer: Vlad Dubinsky Vlad Dubinsky is listed as Erebor's chief credit officer in the memo. Dubinsky's LinkedIn profile says he joined The Bancorp Bank in May as a managing director, credit markets. Bancorp is known for working with fintech companies that issue payment cards. According to his LinkedIn profile, Dubinsky spent over three years working for Blue Foundry Bank, a New Jersey bank with a market capitalization of about $200 million that has been gravitating "away from residential and multifamily lending and toward higher-yielding commercial loans," according to the American Banker.
