Applied Intuition in talks to raise $1.5B+ led by General Catalyst at about $30B, double its 2025 valuation

What's the deal? Applied Intuition, the Mountain View company building software, operating systems and autonomy for vehicles and defence, is in talks to raise at least $1.5 billion in a round led by General Catalyst, Bloomberg reported on 11 November, citing people familiar with the matter. The deal would value the company at roughly $30 billion before the new money, double its valuation in June 2025. General Catalyst plans to put in $250 million, according to one person. The talks are ongoing and neither company has commented, so terms could still change.

The numbers: Applied Intuition is targeting fiscal 2026 revenue of more than $560 million, up about 19% from $474 million the year before, and forecasts revenue above $1 billion in 2027 and $1.8 billion in 2028, according to the report.

Context: Its previous round, a $600 million Series F and tender offer in June 2025, valued it at $15 billion and was co-led by Kleiner Perkins and funds managed by BlackRock. Founded in 2017 by Qasar Younis and Peter Ludwig, the company has been pushing deeper into defence, including autonomy work for naval platforms, alongside automotive, trucking, construction, mining and agriculture customers.

Sources: Bloomberg
Investing.com

Image: Applied Intuition