The American Dynamism Summit in Washington was open to the press for the first time this year.

• It's a reflection of the defense-tech and reindustrialization moment.

The big picture: Founders are emerging as pop-culture characters. Weapons work is, overall, more digestible than it was years ago. Trump 2.0 officials want it known they pull no punches. And there's a sense — at least on social media — that factories are sexy again.

Driving the news: "The government has made tremendous changes over the last couple years to really say that they don't want to have a one-sided barbell prioritizing legacy incumbents and slow, bureaucratic process," David Ulevitch, a general partner at venture-capital juggernaut Andreessen Horowitz, told me.

• "They actually want to have the other end of the barbell gain weight," which means "working with startups, introducing new technology, procuring things more quickly, clearing regulatory hurdles."
• "A lot of that happens because you put people in the same room together."

State of play: The one-day summit was held blocks from the Capitol, at the Waldorf Astoria, formerly bearing President Trump's branding.

• The flourishes were golden; the suits, dark. Palantir Technologies chief executive Alex Karp joked onstage about being "batshit crazy." Elton John's "Rocket Man" played before NASA administrator Jared Isaacman spoke.
• While Pentagon participation was dampened by Operation Epic Fury — still ongoing — chief technology officer Emil Michael fielded questions about the Anthropic feud.

Follow the money: Andreessen earlier this year raised more than $15 billion. Its American Dynamism Fund 2 sat just shy of $1.2 billion.

• That sum is aimed squarely at aerospace, energy, defense and supply chains. "National interest" is the term thrown around.
• "The defense industrial base is the anchor tenant of manufacturing in this country. But it is not the only tenant," Ulevitch said.
• "Part of the reason for essentially doubling the size of our fund was to make sure that when we find these generational breakout companies — the Andurils, the Saronics, the Base Powers, the Castelions, etc. — we actually have the balance sheet to be able to write a high-conviction check."

Zoom in: Anduril is raising around $4 billion at a $60 billion valuation, led by Andreessen and Thrive Capital.

• Saronic, Base Power and Castelion are worth billions as well.

What we're watching: Whether the "build, baby, build" attitude of Trump 2.0 persists, and how American Dynamism adapts to the next administration, run by whoever that may be.

• "The surface area of exciting opportunities continues to get larger," Ulevitch said. "We're still in the very early innings."

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Swarm Aero raised $35 million and plans to more than double its headcount by the end of the year.

The big picture: The California startup is developing what CEO Danny Goodman described to me as large, swarming drones capable of carrying missiles, electronic warfare payloads and cargo alike.

• "We are not expendable, like a Switchblade or a one-way thing, and we're also not exquisite, like a B-2 or F-35," he said.
• It opened a manufacturing facility in Arkansas last month.

Follow the money: The Series A was led by Two Sigma Ventures and Silent Ventures. It follows a $2 million pre-seed in 2022 and a $22 million seed in 2023.

• Other backers include Alumni Ventures, Construct Capital and Founders Fund.

Zoom in: Swarm has completed preliminary design of its Group 5 drone, which will "take off heavier than a killer whale," according to Goodman. The first large parts are now being built.

• Goodman expects a first flight in the next two years.
• "Two-thirds of the cost of building a new aircraft is generally headcount — to design it and assemble it and test it," he said.

Zoom out: Drone warfare — born in Nagorno-Karabakh and refined in the Russia-Ukraine war — has jolted military doctrines the world over.

• The Pentagon under both the Trump and Biden administrations put a premium on the drone-counter-drone game.

The intrigue: Goodman previously co-founded Vannevar Labs. One of his co-founders at Swarm spent a decade at Scaled Composites.

Go deeper: For the Pentagon's drone push, the "factory is the weapon"

The B-52 flew in the Vietnam War. It still flies, most recently blasting Iranian ballistic missile and command-and-control sites.

Why it matters: Few war machines have the staying power of the Stratofortress. Boeing built hundreds of them, some of which are being maintained and upgraded today.

By the numbers: The bomber has a 185-foot wingspan and stands almost 41 feet tall. Its range is listed just shy of 9,000 miles, with its many engines.

What they're saying: "American airpower remains unmatched," U.S. Central Command, which oversees military operations in the Middle East, said on X.

• "The B-52 Stratofortress has been utilized in every major conflict since 1965."

The intrigue: A B-52 was late last year spotted carrying what appeared to be a Long-Range Standoff missile, an in-development nuclear weapon. The aircraft had distinct test markings, The Aviationist reported.

What's next: Work to improve the Stratofortress radar and engines is underway.

• Rolls-Royce in February said its F130 engines passed altitude and operability testing.

Go deeper: Pentagon flexes military muscle with new weapons in Iran

Switzerland will buy fewer U.S.-made F-35As than previously planned due to rising costs, its government said.

The big picture: The multibillion-dollar buy now consists of roughly 30 fighter jets, down from 36.

• The Swiss Federal Council, in a statement, said options that would result in an even greater reduction of the fleet were "rejected for security policy reasons."

Between the lines: Interest in, and alternatives to, Lockheed Martin's F-35 have been used as a bit of a barometer for transatlantic relations.

Flashback: Switzerland initially picked the F-35 in 2021.

Go deeper: Allies and analysts sweat Saudi F-35s

Azerbaijan's ambassador to the U.S. told me his country is taking "appropriate defensive and precautionary measures" following an Iranian drone strike on the Nakhchivan exclave.

• Asked if he was worried about another attack, ambassador Khazar Ibrahim said it's "not about worrying." Instead: "We are calculating, we are looking at facts, and we are making decisions."

Why it matters: The salvo, which Iran denied responsibility for, again widens a war that is days old and has killed many, including American troops.

The latest: Baku and Washington are in close contact regarding the incident, according to Ibrahim.

• The two governments have a track record of cooperation, including overflight and refueling rights during the global war on terror.

Zoom in: Videos seen by Axios show an explosion and black smoke near the Nakhchivan International Airport. A loud buzzing sound can be heard before impact.

• Iran must apologize, provide an "official explanation, ensure those responsible for this crime are held accountable, and also, of course, ensure never again these kinds of things happen," Ibrahim said.

Zoom out: Azerbaijan's defense ministry said the "technical specifications" of the drones used are under investigation.

• Iran has leaned heavily on its Shahed, which experts have likened to a poor man's cruise missile.

Go deeper: Azerbaijan wants deeper U.S. ties after Armenia peace deal

🚨 Northrop Grumman will for the first time provide its Common Infrared Countermeasures system to Germany, to be installed on newly ordered CH-47 Chinook helicopters.

• Why it matters: The CIRCM already has tens of thousands of hours logged aboard U.S. Apaches, Black Hawks and Chinooks.
• 💭 My thought bubble: This animation shows how CIRCM works. It's worth a quick watch.

💸 Nominal raised $80 million, led by Founders Fund. Other backers include Sequoia Capital, Lux Capital and General Catalyst.

• Why it matters: The company is now valued at $1 billion.
• 💭 My thought bubble: Cameron, if you're reading this, I need to get you into the Q&A queue. Let me know!

🛥️ The Defense Innovation Unit is looking for autonomous, low-profile vessels capable of resupplying troops, especially Marines. They should have a 1,000-2,000 nautical-mile range, according to the notice.

• Why it matters: Responses are due March 16.
• 💭 My thought bubble: Remember all that narco-boat inspiration?

🇺🇦 UForce exited stealth with a lot of real-world experience already under its belt. Its portfolio includes the Magura unmanned surface vessel, credited with a world-first shootdown of helicopters over the Black Sea.

• Why it matters: "Ukraine is, obviously, opening up more to cooperating with the West on defense technology," CEO Oleg Rogynskyy told me. "And Ukrainian technology is becoming more and more relevant right now, as we speak."
• 💭 My thought bubble: Rogynskyy will be on my National Security Innovation Base Summit panel Thursday. Tune in!

Check out the X-76.

Why it matters: It's the latest addition to the beloved X-plane family.

Driving the news: The Defense Advanced Research Projects Agency on Monday said Bell Textron is now building the aircraft, following a successful critical design review.

Zoom in: Yes, the "76" is a reference to 1776 and coincides with America's 250th anniversary.

What we're watching: First flight, expected in 2028.