Canva acquires AI start-up Leonardo.ai to enhance its AI capabilities and expand offerings.
Canva, a rival to Adobe, is acquiring Leonardo.ai, an AI start-up with over one billion images created using its technology since its launch 18 months ago. The acquisition aims to enhance Canva's AI capabilities, offering users new features such as image generation in seconds, video creation, AI sketching, and custom-trained models with user datasets. By integrating Leonardo's platform, Canva will expand its AI offerings, attracting enterprise customers and accelerating revenue growth.
July 30, 2024
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