Canva's AI acquisition spree

The acquisitions add significant strength to Canva's data infrastructure and customer engagement capabilities, allowing it to compete more effectively with rivals like Google and Adobe.

Co-founder Melanie Perkins has emphasized that the company is doubling down on AI to provide more intuitive design tools for its millions of users.

This expansion comes at a time when many AI-focused firms are seeing record valuations and increased interest from sovereign wealth funds.

Analysts believe these moves could significantly increase Canva's valuation ahead of its highly anticipated public debut.