Vladimir Putin’s full-scale invasion of Ukraine three and a half years ago shocked European powers into a consensus that they need to rearm. But it was Donald Trump’s wavering commitment to NATO that unleashed the biggest wave of defense spending in Europe since the Cold War.
Swelling defense budgets have fueled a new generation of startups on the continent, with a handful valued at over a billion dollars and others coming up fast. Many of the largest ones got there by building drones and navigation software for unmanned vehicles, an emerging type of weapon that’s proven indispensable in the war ...
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