Archer Aviation’s stock surged after securing a deal with defense AI firm Anduril to power its drones. The agreement involves supplying Anduril and EDGE Group with Archer’s electric powertrain technology, accelerating the development of the Omen Autonomous Air Vehicle system. UAE committed to purchasing 50 Omen drones. Archer plans to pursue more licensing deals to increase revenue streams. The company also aims to be a key powertrain supplier for next-gen electric aircraft. This deal with Anduril marks a positive development for Archer, following recent milestones like a successful test flight in the UAE and exclusive agreements with Korean Air and cities in Japan. Anduril, led by Palmer Luckey, secured $2.5 billion in funding, giving the company a $30.5 billion valuation.

Read more at Yahoo Finance: Flying taxi maker Archer Aviation’s stock pops on Anduril drone deal