Peter Thiel-backed firm to make low-cost missiles amid U.S. shortage

Washington Post Tech Wednesday 09 September 2026, 21:25 UTC By Pranshu Verma 1 min read

Key Points

A defense technology start-up backed by Silicon Valley billionaire Peter Thiel announced Wednesday that it is making long-range cruise missiles that can be produced at a low cost, amid a U.S. weapons stockpile shortage that has been caused by the U.S. conflict in Iran. Democracy Dies in Darkness The 7 logo The 7 LIVEPeter Thiel-backed firm to make low-cost missiles amid U.S. shortage Defense start-up Covenant said it has inked about $150 million in orders to start being delivered in 2027.

Peter Thiel (PERSON) U.S. (LOCATION) Silicon Valley (LOCATION) Iran (LOCATION) LIVEPeter Thiel (PERSON)

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Peter Thiel-backed firm to make low-cost missiles amid U.S. shortage

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