Fal, an AI inference startup that hosts image, video and audio models for creators and developers, has doubled its valuation to $16 billion in a new round of funding.Bessemer Venture Partners, an existing investor, led a $1.3 billion financing round in the startup in October, Fal is set to announce Tuesday. Other investors include Nvidia Corp., Sound Ventures, HOF Capital and T. Rowe Price Group Inc. Fal previously raised $350 million in a Sequoia-led round in April at an $8 billion valuation.Ta

T. Rowe price appoints davide costa as senior ETF specialist. Joins from lemon.markets. T. Rowe Price has appointed Davide Costa as a senior ETF specialist to help expand its European footprint, Investment Week can reveal. To continue reading this article... Join investment week today. Free for those involved in advising, managing and/or analysing investments or £1 per day for professionals outside of these roles.

T. Rowe Price's ETF push confronts $28.3 billion in outflows. T. Rowe Price's earnings improved, but heavy client withdrawals keep pressure on its ETF expansion, planned F/m acquisition and investment performance. T. Rowe Price reported $28.3 billion in third-quarter net outflows despite adjusted net revenue rising 5.3% from a year earlier to $2 billion. T. Rowe Price Group (TROW) increased third-quarter earnings and revenue, but $28.3 billion in net client withdrawals underscored the challenge facing its expansion into exchange-traded funds and other investment products. The asset manager ended the quarter with $1.86 trillion under management. Higher average assets supported its financial results even as clients continued pulling money from equity strategies and mutual funds. Management expects withdrawals to moderate in the fourth quarter, though remain elevated, according to its earnings call carried by Nasdaq Markets. Shares were up 1.61% as of 16:25:18 GMT on October 29. The improved earnings and continued withdrawals present different tests: the company is generating more revenue from its asset base, but has yet to reverse its overall loss of client money. Higher assets lift earnings as fee rates soften. Adjusted diluted earnings were $2.86 a share, compared with $2.57 in the preceding quarter and $2.81 a year earlier. Higher average assets drove both increases, while a lower share count also helped the year-over-year comparison. Adjusted net revenue reached $2 billion, up 5.3% from a year earlier and 5.1% from the previous quarter. Investment advisory revenue totaled $1.8 billion, with higher average assets partly offset by a lower effective fee rate. 8 billion, with higher average assets partly offset by a lower effective fee rate. That annualized fee rate, excluding performance-based fees, declined to 37.8 basis points from 38.1 basis points in the second quarter. Management attributed about two-thirds of the decline to continued growth in its Target Date Blend and Hybrid offerings. The shift shows why asset growth alone does not determine advisory revenue: the mix of products also matters. Adjusted carried interest, a performance-linked source of income, rose to $63.1 million from $15.2 million in the prior quarter. Management also said full-year adjusted operating expense growth was tracking toward the middle of its 4% to 7% guidance range. ETF inflows offer a foothold against withdrawals. The strongest growth channels remain smaller than the overall withdrawal problem. ETFs attracted $3.8 billion in net inflows during the quarter, taking year-to-date inflows to $11 billion. Fixed-income strategies brought in $3.4 billion, while alternatives also recorded positive net flows. By contrast, multi-asset strategies lost $7.6 billion, primarily in Target Date products. That included a previously disclosed large September redemption by a defined-contribution retirement plan from the active Target Date series. The planned acquisition of F/m Investments would broaden the businesses attracting demand. Announced in August and expected to close early in 2027, the deal would add a fixed-income and ETF specialist with approximately $20 billion under management, including institutional and separately managed accounts. Management's discussion in the Motley Fool transcript emphasized expanding access through ETFs, separately managed accounts and model portfolios. These formats address demand for tax efficiency and customization, but their inflows have not yet overcome withdrawals elsewhere. Performance improves, but the recovery is uneven. Investment results offered some support for the turnaround effort. All three large-cap growth funds beat their peer groups during the quarter, reversing the prior quarter's underperformance. Across equity fund assets, 48% outperformed peers over one year and 58% over three years. The five-year figure remained weaker at 37%. Fixed-income performance was stronger, with 85% of assets ahead of peers over one year. Those results leave T. Rowe Price with improving performance in parts of its lineup and growing demand for newer formats, but continued pressure on established products. Management's fourth-quarter outlook points to easing withdrawals - not yet a return to net inflows. Key facts. * Quarter-end assets: $1.86 trillion under management * Net client flows: $28.3 billion in third-quarter net outflows * Adjusted earnings: $2.86 per diluted share in Q3 2026 * TROW shares: Up 1.61% as of October 29, 2026, at 16:25:18 GMT