Archer Aviation, Palantir Announce Next-Gen Aircraft Software Development Pact: Retail Mood Stays Subdued

Archer Aviation Inc. (ACHR) shares took off on Thursday after the electric vehicle take-off and landing (eVTOL) aircraft manufacturer announced a partnership with data analytics company Palantir Technologies, Inc. (PLTR) for next-generation aviation technologies.

Santa Clara, California-based Archer Aviation said the two companies plan to leverage Palantir’s Foundry and its AIP to accelerate the scaling of Archer’s aircraft manufacturing capabilities at its Georgia and Silicon Valley facilities. 

This partnership envisages the development of next-gen software utilizing AI to improve a range of aviation systems, including air traffic control, movement control, and route planning. The goal is to improve efficiency, safety, and affordability across the industry.

The companies said they will formalize the partnership on Thursday during a signing ceremony between Palantir CEO Alex Karp and Archer CEO Adam Goldstein at Palantir’s AIPCon. 

Palantir’s CEO Karp said, “By integrating Palantir's advanced AI capabilities with Archer's innovative approach to aircraft manufacturing and operations, we are setting the stage for a transformative leap in efficiency, safety, and sustainability.”

Adam Goldstein said, “While the aviation industry has an unmatched level of safety, much of the legacy technology supporting the industry has only incrementally advanced. AI and software present an inflection point that will shape the future of aviation." 

On Stocktwits, retail sentiment toward Archer Aviation stock stayed ‘bearish’ (22/100) on ‘extremely low’ message volume. 

Retail’s disposition toward Palantir was only slightly better at ‘neutral’ (51/100). The message volume remained at ‘low’ levels.

While Archer Aviation rose 3% to $7.72 early Thursday, Palantir stock fell about 3.50% to $80.76.

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