Shield AI is in talks to raise money at a valuation of at least $20 billion. The company builds drones and military software that runs with little human control. The figure would be about 60% above its previous valuation. No terms are final and the round may not close. The Information reports the talks, citing a person with knowledge of the fundraise. Neither the investors nor the amount being raised were named.

• at least $20 billion valuation
• roughly 60% above prior valuation