Defense Tech Signals · Capital vs. Contracts Open-source analysis · public data only Data as of Nov 8, 2026 · obligations refresh every other Monday
NatSec100 #5

Shield AI

Recipient: SHIELD AI INC; SHIELD AI INC.; SHIELD AI · UEI DVEJNK717BB6

About $28 raised for every $1 obligated.

Capital raised
$5.2B
Excludes $500.0M debt and credit
Federal obligations, FY2020–FY2026
$184.3M
Raised per $1 obligated
28.0×
Latest valuation
$28.8B
Series H, Nov 2026

Obligations by fiscal year

$M
20.5 FY20 23.3 FY21 28.1 FY22 13.0 FY23 30.3 FY24 16.1 FY25 52.8 FY26

Prime contracts Other Transactions Subawards FY2027 so far: $5.2M (not in totals)

Contract mix

Prime contracts
$101.4M
Other Transactions
$56.9M
Subawards
$26.0M

Notes

Funding
Includes $1B Series H and $1B Blackstone structured equity raised for the $5.3B radar acquisition; excludes $500M JPMorgan debt. Acquisition pending; target's obligations to be added from the closing date.

Cite this: Defense Tech Signals, "Capital vs. Contracts: Shield AI," data as of 2026-11-08, https://data.defensetechsignals.com/c/shield-ai/.

Coverage: prime contracts, IDVs and grants (USAspending), direct Other Transactions (FPDS) and subawards received, FY2020–FY2026. Not included: consortium OTs, FY 2027 so far, loans and classified work. Capital raised: Compiled from announcements and press (Nov 2026). Obligations last refreshed 11/5/2026.