Carlyle Group has joined a $1 billion investment round that values hypersonic‑munitions maker Castelion at $13 billion. The round, co‑led by the private‑equity giant, JPMorgan Chase and Andreessen Horowitz, will be used to boost production of Castelion’s Blackbeard hypersonic missile and to fund the development of a larger hypersonic strike weapon and a mass‑produced air‑defense missile. Military leaders have said they need more hypersonic weapons that can "zip" through enemy defenses to match China’s growing arsenal.

The Pentagon is also urging factories to ramp up traditional defensive batteries such as the Patriot system. Russia’s war with Ukraine has strained the West’s Patriot stockpiles, and the U.S. war with Iran this year has further lowered reserves, raising concerns among Trump‑era officials. The fresh capital reflects blue‑chip firms’ growing interest in a booming corner of the defense industry.