Shares of Archer Aviation Inc. (ACHR) are soaring 7.48% in pre-market trading on Thursday, building on the momentum from Wednesday's announcement of a significant patent acquisition. The electric air taxi company has successfully bid to acquire rival Lilium's portfolio of approximately 300 advanced air mobility patent assets for 18 million euros ($20.91 million).

This strategic move substantially bolsters Archer's intellectual property holdings, bringing its total patent assets to over 1,000. The acquisition is seen as a major step in strengthening Archer's position in the competitive air taxi market, potentially accelerating its technological development and providing a crucial edge in the emerging urban air mobility sector.

Investors appear optimistic about the long-term implications of this deal, as reflected in the significant pre-market stock rally. While the air taxi industry is still in its early stages, Archer's expanded patent portfolio could play a pivotal role in shaping the company's future growth and market position. However, it remains to be seen how effectively Archer can leverage these newly acquired intellectual property assets to advance its air taxi development and commercialization efforts in the coming months and years.