Fal is a company in San Francisco. It runs artificial intelligence, or AI, tools for people who build software. These tools create pictures, videos and sound. Fal runs them after they finish their training.
Investors have put $1.3 billion into the company in a deal that closed in October. The deal puts Fal's worth at $16 billion. That is twice its $8 billion value in April. Bessemer Venture Partners led the deal, and Nvidia, T. Rowe Price and other investors also took part.
Demand for Fal's services is growing quickly. Earlier this year, money from sales came in at a pace of more than $800 million a year. In summer, Fal could not meet all its customers' needs. Its head, Burkay Gur, said the company had to limit how much customers could use its services.
Fal plans to use the new money to get more computers to run its services. It also plans to add people to its team of 185. The company wants more computer power and more staff to support its growing business.
