Business
Flying taxi Midnight on display at GITEX Global
Archer’s Midnight aircraft on display (Rabia Aydogdu/Getty Images)

Archer Aviation strikes deal to supply electric propulsion system to Anduril, bolstering its path to revenue

Archer Aviation announced its new agreement with Anduril after the market closed on Monday.

Air taxi maker Archer Aviation on Monday announced a deal to supply private defense contractor Anduril with its electric power train, marking the first time Archer will make that tech available to a third party.

The deal will help bolster a path to revenue for Archer, which recently said it expects to start generating revenue in Q1 of 2026.

“While most see our Midnight eVTOL as an aircraft, we view Midnight as a platform that plays host to a wide range of new and exciting aerospace technologies that will be leveraged way beyond our own aircraft,” Archer CEO Adam Goldstein said in a statement. “Our power train deal with Anduril is the first of what we expect to be many examples of this.”

According to the announcement, Archer’s power train tech will be used on Anduril’s autonomous “hover-to-cruise” drone, Omen. Anduril announced the vehicle last week as the first product to come out of its joint venture with the UAE’s defense conglomerate, EDGE Group, targeting 2028 for full-scale production. The companies say the UAE has “committed to an initial acquisition of 50 Omen systems.”

In an interview with Sherwood News in July, Goldstein said he believes the company’s defense business could be larger than its commercial air taxi business for at least the next decade.

Archer shares have fallen about 24% since the beginning of the year.

More Business

See all Business
business

Ford partners with Amazon to sell its used vehicles online

Beginning today, many Amazon shoppers can add a pre-owned Ford to cart.

The partnership, announced by the two companies on Monday, will begin in Los Angeles, Dallas, and Seattle, with plans to expand.

According to Ford, every vehicle sold through Amazon will have been “inspected, reconditioned, and comes with a Ford warranty, Ford Rewards points, and in some cases, a money-back guarantee.”

Shares of used car retailers Carvana and CarMax dipped in early trading on the news. Similar patterns occurred when Amazon Autos announced a partnership with Hyundai late last year, and another with rental giant Hertz in August.

According to Ford, every vehicle sold through Amazon will have been “inspected, reconditioned, and comes with a Ford warranty, Ford Rewards points, and in some cases, a money-back guarantee.”

Shares of used car retailers Carvana and CarMax dipped in early trading on the news. Similar patterns occurred when Amazon Autos announced a partnership with Hyundai late last year, and another with rental giant Hertz in August.

business
Rani Molla

Walmart falls after CEO of more than a decade steps down

Walmart’s stock fell as low as 3% this morning in premarket trading on news that its longtime CEO, Doug McMillon, who helped the company beef up its e-commerce segment against Amazon, will be stepping down.

While Walmart’s sales came in above expectations last quarter, it missed on quarterly earnings. It’s also facing an increasingly dominant Amazon, which is pushing further into Walmart’s territory with same-day grocery delivery in more than 1,000 cities and towns in the US, with plans to expand to 2,300 by the end of the year.

And unlike Walmart, Amazon, in addition to e-commerce and physical stores, has a number of other, much higher-income revenue streams — most notably its fast-growing cloud business, AWS. Earlier this year, Amazon nudged ahead of Walmart in overall revenue, and is expected to continue to build on that lead when Walmart reports Q3 earnings next week.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.