When Daniel Ek isn’t busy running Spotify or building his new AI-driven health tech enterprise, he’s making massive bets on the future of European warfare, seemingly.

The billionaire, who primarily lives in Stockholm, just led a €600 million investment in Helsing, a four-year-old, Munich-based defense tech company that is now valued at €12 billion, as first reported by the Financial Times and confirmed separately by TechCrunch. The deal makes it one of Europe’s most valuable privately held companies; it also highlights Europe’s scramble to build its own military muscle as the world grows messier and the U.S. turns inward.