The Albanese government has committed $1.7 billion to acquire a fleet of autonomous Ghost Shark submarines from Silicon Valley defence tech billionaire Palmer Luckey.

Under the contract with Mr Luckey’s company, Anduril Industries, the Royal Australian Navy will acquire undersea vehicles which will be used for surveillance and strikes.

Dozens of Ghost Sharks will be built in Australia, with more than 40 domestic companies involved in their delivery.

Palmer Luckey, instantly recognisable for his facial hair and trademark Hawaiian shirt, has fast risen to prominence in the tech and defence industries.

He became one of only four Forbes self-made US dollar billionaires under 30 after founding Oculus VR, which he sold to Facebook for more than $2 billion.

In 2016, while a rising Silicon Va

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