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Here's your afternoon TNB Tech Minute for Wednesday, March 4th.

I'm Danny Lewis for the Wall Street Journal.

We exclusively report that OpenAI's former chief research officer is fundraising for a new

startup building an artificial intelligence and software platform to help automate factories.

People familiar with the matter say Arda, the new company co-founded by Bob McGrue, is raising $70 million at a $700 million

valuation. Founders Fund and Excel are co-leading the round, which hasn't yet closed. The company's

name refers to the fictional world in the Lord of the Rings and is a nod to its goal of connecting

AI to the physical world while making manufacturing more cost-effective.

Federal regulators have given the green light for a Bill Gates-backed nuclear power project in

Wyoming to begin construction. The Nuclear Regulatory Commission says it has authorized the

construction permit for TerraPowers, Kemmerer Power Station Unit 1. The regulator says it's the first

new commercial reactor construction approved in nearly a decade, and the first non-light water

design approved in more than 40 years. But TerraPower will require a separate operating

license. And shares in semiconductor tool supplier ASM International rose after it posted a better than

expected finish to the year and set strong guidance for 2026. The Dutch company reported a fourth

...