Canva cuts its revenue growth target to about 20% as AI demand drives up compute costs
On August 12, 2026 Canva cut its annual revenue growth target from about 30% to about 20%, and attributed the cut to the cost of serving AI demand rather than weak demand. Since Canva AI 2.0 launched in April, users have created three times as many designs with it as with the previous version, and CEO Melanie Perkins said demand 'significantly exceeded' expectations. Compute costs rose enough that Canva slowed the rollout of new AI features; it says it has since rebuilt its infrastructure and cut the cost of an AI task by almost 90%. The last employee share sale valued Canva at $42 billion and an IPO is being discussed for 2027.