tech
Canva set its AI ambitions too high.
The company has reportedly slashed its revenue forecast for 2026 by a third after relying too heavily on frontier models from other providers to drive AI features on the platform. According to Startup Daily, here’s what CEO Melanie Perkins had to say in an update to shareholders:
TL;DR
- Canva has slashed its 2026 revenue forecast by one-third.
- The company relied too heavily on AI models from other providers.
- First-party AI models were not ready for release.
- Pricing, consumption models, and usage controls were not aligned with demand.