In a move that surprises absolutely no one who has been conscious for the past few years, Dallas-based investment firm Disruptive announced Tuesday a $10 billion fund to back at least 10 late-stage companies, with checks of up to $1 billion each. Because if there's one thing the capital-intensive fields of AI and defense need, it's more capital - preferably intensive.

The fund is one of the biggest raises of the year so far, and it's technically the firm's first blind-pool fund, meaning investors are committing money without knowing which companies will get it. Think of it as a mystery box, but with nine zeros and a lot of PowerPoint. Until now, Disruptive raised money through deal-by-deal special purpose vehicles, which at least had the courtesy to tell people what they were buying.

Disruptive was founded in 2012 by Alex Davis, grandson of billionaire oil magnate Marvin Davis, and its past bets include Palantir, Airbnb, and Spotify - so the firm has a knack for spotting companies that will eventually become verboten topics at dinner parties. The WSJ first reported earlier this month that the firm was seeking the fund and had already secured at least $7.5 billion in capital commitments by then. According to the Dallas Business Journal, the new vehicle is the largest venture fund raised in Texas history, a state known for doing things big and occasionally regretting it.

Disruptive has made headlines in recent years for pouring money into companies like chip startup Groq and AI voice-generation startup ElevenLabs. Bloomberg reported that the firm told LPs it has returned more than $6 billion on the roughly $1.9 billion it has poured into startups - a return that would make even the most cynical LP raise an eyebrow, presumably in interest.

So here we are: another giant pile of money aimed at AI and defense, because the future is apparently either generated by machines or defended by them. Disruptive's new fund is a bet that at least 10 companies can absorb checks of up to $1 billion and do something useful, or at least something that sounds useful in a press release. Given the firm's track record, it's not the worst bet - but it is, admittedly, a very large one.