Anduril Industries, a U.S. defense technology company, announced it will invest $3.7 billion to build a new shipyard in Maryland to manufacture critical components for the U.S. Navy's Virginia-class submarines. The company has secured a $2.9 billion contract from the U.S. Navy. Palmer Luckey, co-founder of Anduril, is co-leading a new Department of Defense project called "Project Meridian" with tech billionaire Musk, focusing on future warfare technologies, including autonomous, AI-powered, and maritime military capabilities. Donald Trump was scheduled to unveil the project and announce the expansion of the Baltimore Naval Shipyard on Tuesday afternoon. This move is the Pentagon's latest effort to accelerate naval shipbuilding and weapons production, aiming to counter threats to global oil shipments from the Iran war and other regional conflicts.