Palihapitiya’s SPAC Bets on Strategic Tech and National Security

A new SPAC led by venture capitalist Chamath Palihapitiya has filed for a $250 million IPO under the name American Exceptionalism Acquisition Corp. A. According to the S-1 filed with the SEC, the blank-check company will target a single business operating in one of four high-impact sectors: artificial intelligence, decentralized finance (DeFi), defense, or energy.

Chamath Palihapitiya’s New SPAC Targets AI, DeFi, Defense, and Energy

In the S-1 registration statement, the SPAC outlines a mission to support U.S. global leadership by investing in what it calls “strategic sectors for the 21st century.” It seeks to identify and merge with a business that can shape the future of technology, security, and infrastructure, offering it an alternative route to public markets without the traditional IPO process.

Energy takes center stage in the strategy, with the firm indicating backing for scalable solar, geothermal, nuclear, and critical mineral supply chains. Palihapitiya’s earlier investment in Palmetto — a platform for solar energy — indicates strong belief in the sector.

Artificial Intelligence (AI) constitutes the second pillar. Palihapitiya’s experience in AI stretches far back to his early backing of Groq, and the funding of 8090 — a software company that uses AI to modernize older enterprise software — further burnishes his credentials in the space.

Decentralized Finance (DeFi) is another key target. The SPAC considers DeFi as an evolution of traditional finance and cites the advent of crypto-native firms like Circle as evidence of its promise in revolutionizing global payments and transparency.

Defense rounds out the priority, with the company pointing to the growing application of autonomous systems and AI in modern warfare. Past investments have included Saildrone, a producer of unmanned surface vehicles (USVs), a blend of defense and climate tech.

Why it matters

Chamath Palihapitiya has a history of launching successful SPACs, including those that brought Virgin Galactic, Opendoor, and Clover Health public. This new SPAC combines aggressive sector targeting with national strategic significance — potentially offering a unique vehicle for scaling tech startups while aligning with broader geopolitical and economic interests.

In a recent commentary, Palihapitiya noted the uneven outcomes in traditional exit scenarios — referencing how Circle employees reportedly missed out on $3 billion in value despite CRCL’s strong market rally.