OpenAI’s former chief research officer is raising $70M for a new startup building an AI and software platform to automate manufacturing, according to people familiar with the matter, The Wall Street Journal’s Meghan Bobrowsky and Kate Clark report. Arda, the new startup co-founded by Bob McGrew, is raising at a valuation of $700M, according to people familiar with the matter. Founders Fund and Accel are co-leading the round, with participation from Khosla Ventures and XYZ Venture Capital. Shares of Rockwell Automation (ROK) and Emerson (EMR) are both trading lower in afternoon trading.
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