CNBC and Bloomberg report that German defense startup Helsing raised $1.8 billion in a Series E round that values the company at $18 billion — the largest defense-tech financing in European history. Backers include Goldman Sachs Alternatives, Dragoneer, Iconiq, the Canada Pension Plan Investment Board and JPMorgan. Helsing builds AI and autonomous software for drones and underwater surveillance systems, and its flagship is an uncrewed jet called the CA-1 Europa. According to the reports, investor demand far outstripped the available allocation. The round underscores how much capital is now flowing into software-defined defense as European governments rearm and lean on AI for battlefield intelligence.