Archer Taps Palantir's AI to Supercharge Electric Aircraft Production and Flight Tech
On Thursday, Archer Aviation Inc. (NYSE:ACHR) and Palantir Technologies Inc. (NASDAQ:PLTR) collaborated to build the AI foundation for the future of advanced aviation technologies.
The companies plan to leverage Palantir Foundry and artificial intelligence platform to accelerate the scaling of Archer’s aircraft manufacturing capabilities at its Georgia and Silicon Valley facilities, advance the development of software solutions, and drive innovation across the entire value chain.
The partnership would include developing advanced AI software to improve various aviation systems, including air traffic control, movement control, and route planning, to boost industry efficiency, safety, and affordability.
Archer and Palantir will formalize this partnership later Thursday during a signing ceremony at Palantir’s AIPCon, which will be hosted by Alex Karp, co-founder and CEO of Palantir, and Adam Goldstein, founder and CEO of Archer.
Archer Aviation stock surged 46% in the last 12 months. The company reported a fourth-quarter loss of $1.42 per share, missing analyst estimates of $1.24 per share.
Archer Aviation said its quarterly spending stayed within the guided range and remained close to flat for the second straight quarter.
The company ended the period with $834.5 million in cash and equivalents. JPMorgan’s Bill Peterson noted that the first piloted flight in the U.S. could draw investors toward Archer’s technology. Peterson projected a first-quarter loss of $0.21 per share.
Palantir Technologies stock surged 235%, backed by the AI frenzy. Market analysts associated Palantir’s rise to artificial intelligence capabilities with Karp’s support for government efficiency initiatives.
Price Actions: Archer Aviation stock is down 1.21% at $7.38 at last check early Thursday. PLTR is down 4.38% to $79.96.
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