Nuclear Rivalries & Hadrian’s Fresh Funds: Defense Investors' Year-End Bets

Exclusive: Radiant & Hadrian are in talks to raise more capital, sources say

With public defense tech darling Palantir up 120% year-to-date, AI isn’t the only part of the startup sector that’s got venture capitalists buzzing. Investors are pouring more money into defense manufacturer Hadrian, sources tell us, at a $1.6 billion valuation. And nuclear startups have investors particularly excited with the opportunity to onshore manufacturing in Trump’s America and rising AI energy demands.

Sources tell us Radiant, a startup that is building portable micro-reactors to replace diesel fuel generators, is in talks to raise more than $250 million at a valuation above $1.5 billion, according to three sources familiar with the deal — a massive round that has become one of the clearest signals yet of how much investor appetite there is for hard tech and power-infrastructure startups in 2025. The round isn’t closed and it seems like there could still be some upward movement in the price if there’s enough investor appetite or demand for more capital from Radiant.