Former OpenAI Chief Research Officer Raises $70M for New Startup
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
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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Analyst Views on ROK
Wall Street analysts forecast ROK stock price to rise
15 Analyst Rating
8 Buy
7 Hold
0 Sell
Moderate Buy
Current: 374.070
Low
105.00
Averages
406.87
High
470.00
Current: 374.070
Low
105.00
Averages
406.87
High
470.00
About ROK
Rockwell Automation, Inc. is engaged in industrial automation and digital transformation. The Company operates in three segments: Intelligent Devices, Software & Control, and Lifecycle Services. The Intelligent Devices segment portfolio includes power control, motion control, safety, sensing, and industrial components, and micro control and distributed input/output. The Software & Control operating segment contains a comprehensive portfolio of production automation and production operations platforms, including hardware and software. This integrated portfolio is merging information technology (IT) and operational technology (OT), bringing the benefits of the Connected Enterprise to the production system. The Lifecycle Services segment includes consulting services, including cybersecurity and digital transformation strategy and design and professional services, including global automation and information program and project management and delivery capabilities, and connected services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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