### Billionaire Israel Englander Shifts Investments, Bets Big on Electric Aircraft Maker

Billionaire hedge fund manager Israel Englander, co-founder and CEO of Millennium Management, is shifting his investment focus. Recent filings reveal that his firm has significantly reduced its stakes in leading artificial intelligence companies Nvidia and Palantir while investing heavily in promising electric aircraft maker Archer Aviation.

Millennium Management, which Englander established in 1989 with $35 million, now commands over $70 billion in assets, making it one of the largest hedge funds globally. As a "pod shop," Millennium allocates capital to various teams with their own strategies, although Englander, as CEO, likely influences major decisions and shows trust in his portfolio managers.

In the third quarter, Millennium reduced its holdings in Nvidia by 13%, though it still retains 11.15 million shares and options. The firm drastically cut 90% of its stake in Palantir but increased its call and put options on the stock, suggesting a straddle options strategy. These moves appear to be driven by concerns over high valuations in a market seen as exuberant.

Conversely, Millennium has turned its attention to Archer Aviation, purchasing over 3.2 million shares worth approximately $9.8 million, making it the 11th largest holder of the stock. Archer is developing electric air taxis designed to alleviate urban traffic congestion. Their Midnight aircraft can perform consecutive short flights with minimal charge time, carrying up to four passengers plus a pilot with minimal noise.

Archer has made significant strides, including receiving critical regulatory approvals from the Federal Aviation Administration and completing 400 test flights ahead of schedule. The company plans to launch an air taxi network in Los Angeles and has partnered with Southwest Airlines to develop this infrastructure. Analysts are optimistic, with price targets implying potential gains of up to 151%.

While Archer Aviation is still unprofitable and akin to a late-stage start-up, the potential rewards make it a compelling investment. If successful, the company could capture a substantial share in an emerging market, offering significant returns for investors.