Archer Aviation Inc. (ACHR) is experiencing a rise in its stock price today following the announcement of a new partnership with Anduril Industries to develop a hybrid vertical takeoff and landing (VTOL) aircraft for military use. This collaboration aims to leverage Archer's expertise in VTOL technology and Anduril's capabilities in artificial intelligence and systems integration to create a more eco-friendly aircraft. The project has garnered significant attention due to its potential to reduce the U.S. military's carbon footprint, aligning with broader environmental goals. Additionally, Archer has secured $430 million in equity capital from investors, including United Airlines and Stellantis, to support this initiative, further boosting investor confidence.
The current price of Archer Aviation Inc. (ACHR) is $10.35, reflecting a 2.90% increase from its previous close of $10.06.