Brian Schimpf, CEO of defense tech startup Anduril, stated at the Allen & Co. Sun Valley Conference that the company is in no rush to go public given current market conditions, saying “a bad time to do that is in the middle of a hype cycle.” Anduril, which deals in drones and AI-powered weapons, doubled its valuation in May to $61 billion amid surging demand fueled by President Donald Trump’s military reindustrialization push, as the US defense budget is on track to reach $1.5 trillion. Schimpf cautioned that valuations across tech are “crazy high” and not necessarily rational, warning that “a lot of companies are dangerously leading into overvalued territory in a way could backfire.” His comments come as OpenAI and Anthropic have both confidentially filed to go public with valuations near $1 trillion. Separately, speaking at Fortune's Brainstorm Tech conference, Schimpf said modern conflicts are no longer focused mainly on destroying military assets but on targeting infrastructure that keeps economies running, citing assets such as data centres, oil refineries and critical shipping routes as key targets.