Latest news with #AdamGoldstein
Business Insider
13 hours ago
- Business
- Business Insider
Flying taxi pilots could use AI for fast answers during emergencies, Archer CEO says
Archer Aviation is considering creating an AI flight manual for its air taxis, its CEO told Business Insider. "We look at using AI and LLMs [large language models] to help simplify things," Adam Goldstein said in an interview at the Paris Air Show this week. "So, we can look at anything from a flight manual — which may be quite complex, that you can query and ask questions — to internal tools to help us move faster. "You can imagine if you're in some type of scenario and there's a big flight manual, and you need to understand what to do very quickly, you don't want to be thumbing through some multi-hundred-page book," he added. "You want to ask a quick question, get your answer, and fix your problem." Pilots have manuals called quick-reference handbooks that outline procedures for emergencies or other situations where the aircraft signals a warning message. The handbooks are typically on a digital device that are easier to search. AI could make searching faster, but large-language models such as ChatGPT have faced criticism for sometimes generating incorrect information, known as hallucinations. Silicon Valley-based Archer has partnered with Palantir for work with AI, saying they would develop software to improve a range of systems, including air traffic control, movement control, and route planning. "There's big complicated systems that need near 100% reliability, if not 100% reliability, and that's why we partnered with Palantir," Goldstein told BI. He said he used ChatGPT daily: "I think it's a great way to do research and to view the world, and I only expect that to continue." Archer is one of the premier players in advanced air mobility, which is regarded as the next generation of aircraft. Its aircraft, Midnight, is electric and can take off and land vertically — called an eVTOL for short, or a "flying taxi." The goal is to transform commutes in cities. For example, Archer says it would take 9 minutes to travel between Newark Liberty International Airport and downtown Manhattan, instead of the roughly hourlong journeys by car or public transit. United Airlines has placed an order worth up to $1.5 billion, and Archer last month announced it was chosen as the official air taxi partner of the 2028 Los Angeles Olympics. Also in Paris on Tuesday, Transportation Secretary Sean Duffy announced an alliance to streamline the certification of eVTOLs, including the UK, Canada, Australia, and New Zealand. Archer plans to deploy its first Midnight aircraft in the United Arab Emirates later this year.
Business Wire
17 hours ago
- Business
- Business Wire
Archer Partners With Jetex to Integrate Global Infrastructure Portfolio Into Air Taxi Network
PARIS--(BUSINESS WIRE)-- Archer (NYSE: ACHR) today announced a strategic partnership with Jetex, a leading global aviation services provider, focused on developing infrastructure across Jetex's international portfolio of private terminals to support Archer's planned commercial air taxi network 1. This collaboration, planned to focus initially on infrastructure in the United Arab Emirates, is expected to expand to additional sites around the world across Jetex's global portfolio, which includes 40 private aircraft terminals in more than 30 countries. Building upon Archer's prior partnerships with other leading infrastructure providers, this approach advances Archer's plans to scale a vertiport network that can support the growth plans for Archer's air taxi operations globally. Under this partnership, the two companies plan to enhance Jetex's strategically located fixed base operator (FBOs) locations to better suit Archer's Midnight aircraft. Archer plans to work with Jetex to design the passenger experience and integrate eVTOL aircraft into daily operations. These upgrades will be paired with Jetex's luxury service standards to deliver an efficient, tech-enabled customer journey. Adel Mardini, Founder & CEO of Jetex, commented: 'eVTOL technology is an instrumental part of our industry, designed to transform urban mobility and shape the future of business aviation. We are proud to work with our partners at Archer on making this ambitious vision a reality at Jetex Abu Dhabi and our other global destinations.' Adam Goldstein, founder and CEO of Archer, said, 'Building a beautiful, safe and high-performing aircraft is only one aspect of our business. To succeed in the UAE and beyond we need to pair Midnight with strategic infrastructure that allows us to operate by delivering a premium experience for our passengers. With their wide-ranging global portfolio, and deep expertise with high-end customer service, Jetex is a perfect fit as a partner in Archer's commercialization strategy.' The announcement comes as Archer continues to advance its certification and commercialization efforts in the UAE and beyond, building on recent achievements including regulatory design approval for the UAE's first hybrid heliport at Abu Dhabi Cruise Terminal and ongoing partnerships with leading regional operators including Abu Dhabi Aviation. About Archer Archer is designing and developing the key enabling technologies and aircraft necessary to power the future of aviation. To learn more, visit About Jetex An award-winning global leader in private aviation, Jetex is recognized for delivering flexible, best-in-class solutions to customers worldwide. Jetex provides exceptional private terminals (FBOs), lifestyle concierge and aircraft charter services, as well as fuelling, ground handling and global trip planning. The company caters to both owners and operators of business jets for corporate, commercial and personal air travel. Forward-Looking Statements This press release contains forward looking statements regarding Archer's future business plans and goals, including statements regarding its aircraft performance, the timing of Archer's development, commercialization, and certification of its eVTOL aircraft, and plans relating to its global infrastructure buildout and operations. In addition, this press release refers to a strategic partnership that is conditioned on the future execution by the parties of additional binding definitive agreements incorporating the terms outlined in the memorandum of understanding, which definitive agreements may not be completed or may contain different terms than those set forth in the framework agreement. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Archer's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, available at In addition, please note that any forward-looking statements contained herein are based on assumptions that Archer believes to be reasonable as of the date of this press release. Archer undertakes no obligation to update these statements as a result of new information or future events. Source: Archer Text: ArcherIR 1 Our strategic partnership remains conditional, subject to the execution of further definitive agreements and the satisfaction of certain conditions
Yahoo
a day ago
- Automotive
- Yahoo
Archer Aviation Is Betting Big on Its Fledgling Defense Business. Does That Make ACHR Stock a Buy Here?
Valued at a market cap of $5.5 billion, Archer Aviation (ACHR) designs and develops aircraft and related technologies in the U.S. It is a prominent player in the emerging electric vertical takeoff and landing (eVTOL) industry, and has struck commercial deals aimed at transforming urban air mobility (UAM). Although its flagship eVTOL is still going through rigorous testing and securing regulatory approval before commercial launch, Archer is working to secure business in advance. And, in recent months, the company is also quickly building out its defense business. Trump Is Giving Tesla's Robotaxis a Leg Up Ahead of June 22. Should You Buy TSLA Stock Now? Dear Nvidia Stock Fans, Mark Your Calendars for July 16 The Trump Family Is Betting Big on Mobile Phones. Should Apple Stock Investors Be Worried? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Archer Aviation is strategically pivoting toward defense contracts as commercial air taxi deployment faces extended timelines. In fact, CEO Adam Goldstein recently predicted that defense could become 'the biggest part of our business' in the near term. The electric aircraft manufacturer's shift reflects broader industry trends, as air taxi developers confront slower-than-expected progress in launching passenger services. On the flip side, President Donald Trump is ramping up military spending with a focus on defense innovation. This presents Archer with an opportunity to capitalize through strategic partnerships, including its collaboration with weapons maker Anduril Industries to develop hybrid-fueled military aircraft. Archer secured its first major defense contract in 2023, partnering with the U.S. Air Force to provide quieter, cost-effective eVTOLs for supply delivery and non-combat applications. This positions the company to capture immediate revenue while commercial markets mature. Bloomberg Intelligence analysts project that fewer than 30,000 air taxis will be flying by 2040, a level that would be unprofitable, requiring companies to diversify into defense, cargo, and hybrid variants. This tepid forecast validates Archer's defense-focused approach, as traditional air taxi timelines extend beyond initial projections. The defense pivot offers Archer near-term revenue potential while maintaining long-term commercial opportunities. However, investors should consider execution risks and the company's ability to navigate defense contracts and eventual commercial scaling. Archer Aviation ended Q1 2025 with more than $1 billion in cash, providing it with a substantial runway for its ambitious commercialization plans. Its UAE deployment remains on track for late 2025, with the first Midnight aircraft currently in flight testing before delivery. The company has secured government backing from the Abu Dhabi Investment Office, a regulatory pathway approval from the UAE General Civil Aviation Authority, and an operational partnership with Abu Dhabi Aviation as its first Launch Edition customer. Critical infrastructure is also advancing, with the UAE's first hybrid heliport conversion approved and pilot training underway at Etihad Aviation Training. Notably, Archer Aviation has forged a foundational AI partnership with Palantir (PLTR) to develop next-generation aviation software. This collaboration will focus on enhancing manufacturing scalability, movement control, and route planning. Additionally, Archer announced plans with United Airlines (UAL) for a New York City air taxi network, aiming to replace 1- to 2-hour drives with 5- to 15-minute flights between Manhattan and nearby airports. Q1 results showed controlled spending, with total operating expenses of $144 million and a net loss of $93.4 million, an improvement from the prior-year period. The company raised $301.8 million in gross proceeds during the quarter, strengthening its balance sheet for upcoming commercial operations. With 15% of FAA compliance verification documents approved and successful engine failure testing demonstrating aircraft redundancy, Archer appears well-positioned for its commercial aviation transformation. While still in the pre-revenue stage, Archer is focused on increasing sales from a forecast $144 million in 2026 to $1.36 billion in 2029. Moreover, the company is expected to turn profitable in 2029, with earnings per share of $0.33. If the aviation stock is priced at 10 times forward sales, it will have a market capitalization of $13.6 billion, indicating upside potential of over 100% from current levels. Out of the nine analysts covering ACHR stock, five recommend 'Strong Buy,' two recommend 'Moderate Buy,' and two recommend 'Hold.' The average target price of Archer Aviation stock is $12, indicating upside potential of roughly 20% from current levels. On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Archer Lands $250 Million Indonesia eVTOL Deal
Archer Aviation (NYSE:ACHR) shares are ticking in the green after the eVTOL maker inked a deal with Indonesia's PT. Industri Ketahanan Nasional will introduce up to 50 Midnight aircraftvalued at $5 million apieceto the Southeast Asian archipelago. Under the nonbinding agreement, PT. Warning! GuruFocus has detected 2 Warning Sign with ACHR. IKN will deploy an initial fleet for air taxis, military logistics, cargo delivery and environmental surveillance in and around the new capital, Ibu Kota Nusantara, with an $18 million pilot program providing pilots, technicians, software and booking tools. The partners will work with Indonesia's Directorate General of Civil Aviation to craft regulations and infrastructure ahead of launch. This marks Indonesia as the third market in Archer's Launch Edition global rollout, following deals in the UAE and Ethiopia, and underscores CEO Adam Goldstein's view of the archipelago's island geography and tourism growth as ideal for eVTOL deployment. Archer's recent $850 million capital raise has boosted liquidity to roughly $2 billion, positioning the company to scale production250 Midnights are slated for 2025and build out charging and vertiport networks. The firm is also integrating AI-driven flight operations and safety via partnerships with Palantir (PLTR). Why it matters: Securing a third early-adopter market validates Archer's blueprint for global commercial air mobility ahead of full FAA certification, de-risking expansion and reinforcing its first-mover advantage. Analysts see Archer Aviation trading at about $10.40 today and climbing to an average target of $12.31 over the next yearimplying nearly 19% upside. In a best-case scenario, bullish forecasts stretch as high as $18, while the bears warn the shares could fall to around $4.50 if execution or certification hiccups arise. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Archer Lands $250 Million Indonesia eVTOL Deal
Archer Aviation (NYSE:ACHR) shares are ticking in the green after the eVTOL maker inked a deal with Indonesia's PT. Industri Ketahanan Nasional will introduce up to 50 Midnight aircraftvalued at $5 million apieceto the Southeast Asian archipelago. Under the nonbinding agreement, PT. Warning! GuruFocus has detected 2 Warning Sign with ACHR. IKN will deploy an initial fleet for air taxis, military logistics, cargo delivery and environmental surveillance in and around the new capital, Ibu Kota Nusantara, with an $18 million pilot program providing pilots, technicians, software and booking tools. The partners will work with Indonesia's Directorate General of Civil Aviation to craft regulations and infrastructure ahead of launch. This marks Indonesia as the third market in Archer's Launch Edition global rollout, following deals in the UAE and Ethiopia, and underscores CEO Adam Goldstein's view of the archipelago's island geography and tourism growth as ideal for eVTOL deployment. Archer's recent $850 million capital raise has boosted liquidity to roughly $2 billion, positioning the company to scale production250 Midnights are slated for 2025and build out charging and vertiport networks. The firm is also integrating AI-driven flight operations and safety via partnerships with Palantir (PLTR). Why it matters: Securing a third early-adopter market validates Archer's blueprint for global commercial air mobility ahead of full FAA certification, de-risking expansion and reinforcing its first-mover advantage. Analysts see Archer Aviation trading at about $10.40 today and climbing to an average target of $12.31 over the next yearimplying nearly 19% upside. In a best-case scenario, bullish forecasts stretch as high as $18, while the bears warn the shares could fall to around $4.50 if execution or certification hiccups arise. This article first appeared on GuruFocus.
