ROK News & Events

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.

Rockwell Automation announces that it has "achieved significant time savings, improved project accuracy and reduced operational costs for Falcare Industrial Equipment in Sao Caetano do Sup in Brazil." By integrating Rockwell Automation's suite of digital simulation and virtual commissioning tools, Falcare achieved: 60% faster project execution; Greater precision and quality; Improved decision-making; Reduced waste and energy use.