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: > “Several of our first-party models were not yet ready for release, and our pricing, consumption model and usage controls had not caught up with the outsized demand we were seeing.”