Palmer Luckey’s Erebor Bank adds over $3 billion in deposits in a single quarter

Key Summary

Palmer Luckey's Erebus Bank has had a remarkable quarter, pulling in over $3 billion in deposits and adding over 500 customers in just a few months. The bank's focus on startups in AI, defense technology, and advanced manufacturing is attracting significant attention from investors, with a reported funding round targeting an $8 billion valuation.