Sources say a former OpenAI executive is raising $70 million for AI company Arda.

According to the Wall Street Journal, Bob McClure, former chief research officer of OpenAI, is raising $70 million for an AI and software platform startup that aims to automate manufacturing. The new company, named Arda, co-founded by McClure, is currently raising funds at a valuation of $700 million, according to sources familiar with the matter. Founders Fund and Accel co-led the round, with participation from Khosla Ventures and XYZ Venture Capital. The round is not yet closed and the terms are still subject to change. Sources say Arda is developing an AI and software platform, including a video model that can analyze video footage from factory floors and use that data to train robots to autonomously operate in the factory. The company's software will coordinate machines and people throughout the production process, covering everything from product design...