T. Rowe Price is a US asset manager running mutual funds and institutional portfolios. Recent coverage focuses on its AI-related investment activity: it took part in Fal's $1.3 billion round at a $16 billion valuation and ElevenLabs' $300 million employee tender at $22 billion. CIO Sebastien Page stays optimistic on the AI trade over 6-12 months, portfolio manager Tony Wang calls an AI slowdown macro rather than company-specific, and a top-performing fund is adding bets on Greater China's AI supply chain.
T. Rowe Price: Markets Reassessing Pace of the AI BoomTony Wang, science and technology equity strategy portfolio manager at T. Rowe Price, says the AI boom is not necessarily over, but markets are reassessing its pace, feasibility and long-term returns. He attributes the selloff to crowded positioning, leverage and momentum-driven trading.
AI inference startup Fal raises $1.3B at $16B valuationAI inference startup Fal raised $1.3 billion, doubling its valuation to $16 billion, led by existing investor Bessemer with Nvidia, Sound Ventures, HOF Capital and T. Rowe Price participating. It previously raised $350 million led by Sequoia in April at an $8 billion valuation.
T. Rowe Price's Wang: AI slowdown is macro, not one companyT. Rowe Price portfolio manager Tony Wang says investors want AI spending to translate into better-than-expected revenue in core and cloud businesses and improved margins. He calls AI chip demand unprecedented but warns rapid shipments strain supply chains and create bottlenecks, raising execution expectations. He frames an AI slowdown as more macro than tied to any single company.
T. Rowe Price CIO Remains Optimistic on AI TradeSebastien Page, co-head of global investments and CIO at T. Rowe Price, says he remains 'fundamentally' optimistic on the artificial intelligence trade over the next 6-12 months due to AI demand.
ElevenLabs doubles valuation to $22B in employee tenderAI voice startup ElevenLabs doubled its valuation to $22 billion from $11 billion in February through a $300 million employee tender co-led by Wellington and T. Rowe Price. It is the second such secondary transaction for the four-year-old company, after a $100 million tender at a $6.6 billion valuation in September 2025.
T. Rowe Fund Ramps Up Bets on China's AI Supply ChainA top-performing T. Rowe Price fund is increasing bets on Greater China companies lower down the AI supply chain, wagering the region's investment cycle still has room to catch up with global trends.
The A.I. Daily