Gene Munster Says Anduril Is Having Its Own Tesla Model 3 Moment—Company President Says 'We've Hired a Lot' of People From That Era Anduril Industries sign on exterior of building (Credit: Photo Courtesy: Tada Images on Shutterstock.com) Badar Shaikh Thu, November 5, 2026 at 2:30 PM EST 5 min read ANIN.PVT TSLA -11.03% Trade Tesla on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
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Defense company Anduril, co-founded by Palmer Luckey, may be on the verge of a Tesla Inc. Model 3 moment, according to investor Gene Munster of Deepwater Asset Management.
On Tuesday, Munster posted on the social media platform X, sharing a clip of Anduril President and Chief Business Officer Matthew Steckman's appearance on Deepwater's Fathom podcast.
"Feels like Anduril is at its Tesla Model 3 moment, when Tesla tripled production and flipped to meaningful profitability," the investor said.
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Steckman, during his appearance, said that Anduril had created "We basically created a whole bunch of potential energy in the system… and now it's time to go kinetic; some of the products will go kinetic."
He added that Anduril was working on ramping up 20 products at the same time. Steckman said that the company refers to the Model 3's "let's bet the farm" example on a regular basis.
"We've actually talked to a lot of people [who were] sort of involved in that period of time. We've actually hired a lot of them too," Steckman said.
In Munster's post, he said that the company's efforts to scale 20 products simultaneously may be even harder than Tesla's Model 3 ramp. "Given the volume is booked, when Anduril hits scale, the margin story changes fast," Munster said.
Anduril is best known for its autonomous systems, military software and drone technology. The company recently secured a $1.8 billion contract from the U.S. Army to move its Next-Generation Command and Control system.
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The Model 3 was released in 2017 as a more affordable vehicle in the Tesla lineup over the premium Model S and X. The vehicle was a success for Tesla, quickly rising to the upper echelons of the sales charts.
However, Tesla faced pressure to ramp up production of the Model 3 to 5,000 units per week to meet demand, with Musk claiming he was sleeping under his desk, living in factories in Nevada and Fremont in 2018.
Meanwhile, Anduril was letting its employees sell their shares at $94.80 each, extending eligibility to employees in 16 countries. Previous share sales were limited to staff in the U.S., Australia and the U.K.
Earlier in October, Anduril had announced a partnership with Gecko Robotics to automate inspections across the defense company's maritime manufacturing facilities, including the upcoming Arsenal-2 facility in Baltimore County, Maryland.
Photo Courtesy: Tada Images on Shutterstock.com
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