Thu Dec 26 11:50:00 UTC 2024: ## Archer Aviation Stock Soars After $430 Million Funding Round
**NEW YORK** – Shares of Archer Aviation Inc. (NYSE: ACHR) surged 12 percent this week, closing at $10.78 on Friday, up from $9.64 at the start of the week. The jump follows the company’s announcement of a successful $430 million funding round.
The investment round attracted a diverse group of high-profile investors, including Stellantis, United Airlines, Wellington Management, and 2PointZero, a subsidiary of the UAE’s largest public company, IHC. Archer plans to use the capital to further develop its Midnight eVTOL aircraft and a hybrid aircraft in collaboration with defense technology firm Anduril Industries.
The Midnight eVTOL is designed for urban air travel, capable of carrying a pilot and four passengers with luggage for distances of 20-50 miles at speeds up to 150 mph. The aircraft utilizes six independent battery packs, each powering a pair of electric engines.
While the article mentions Artificial Intelligence as a major investment opportunity, the connection to Archer Aviation’s funding and stock performance is unclear and not directly supported by the provided text. The majority of the text focuses on promoting an unrelated AI investment newsletter.
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