Shares of Archer Aviation (NYSE: ACHR) are rising on Tuesday. The company's stock gained 6.1% as of 12:50 p.m. ET and was up as much as 14.4% earlier in the day. The gain comes as the S&P 500 (SNPINDEX: ^GSPC) was flat,

Air-taxi maker Archer Aviation said on Tuesday it has raised $300 million in a funding round that consisted of institutional investors including accounts managed by BlackRock .

The electric vertical takeoff and landing (eVTOL) aircraft industry is approaching commercialization in late 2025, promising to revolutionize transportation in urban areas and beyond. Morgan Stanley, a top investment bank, estimates the eVTOL market could reach trillions of dollars by mid-century, creating a powerful investment trend.