Editorial companion

What stands out

Quantum Systems raised $1.2 billion and more than doubled its valuation to $8 billion, a dramatic moment for a German drone maker. Co-CEO Sven Kruck told CNBC that venture capital (VC) firms are piling in because the company shows strong revenue growth, rising valuations, and battlefield-proven performance in Ukraine. For anyone watching the defence-tech beat, real sales plus geopolitically driven demand marks a shift from speculative prototypes to businesses that large checks can actually buy into right now.