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From left, Cliff Obrecht, Canva’s co-founder and chief operating officer, and George Howes, co-founder and CEO of MagicBrief, pose for a photo at the Cannes Lions festival in Cannes, France, in June 2025.

Canva

Canva has grown into a $32 billion startup through its popular design tools used for easily creating images, marketing material and presentations.

Now the company, with its 12th acquisition, is buying its way into the analytics market.

Canva said on Tuesday that it’s buying MagicBrief, whose technology is used for analyzing ad performance, for an undisclosed sum. With MagicBrief, companies can track spending and engagement on their ads and see what’s working well for competitors.

Around 240 million people use Canva’s products, which compete with offerings from Adobe’s Creative Cloud. The company has been deepening its capabilities in artificial intelligence, incorporating it into photo editing, coding and by incorporating chatbots.

“We feel like, especially with AI, we can really democratize marketing and allow marketers to do a lot more with less,” Cliff Obrecht, Canva’s co-founder and chief operating officer, said in an interview.

Canva, which ranked fifth on CNBC’s latest Disruptor 50 list, has raised over $560 million, and was valued most recently at $32 billion, though that’s a step down from its peak of $40 billion in 2021, when private markets were at their frothiest. Obrecht said the company has $1 billion in the bank.

Canva plans to incorporate MagicBrief into a broader product that it will announce later this year, Obrecht said. In October, Adobe announced the availability of a tool for creating ads with AI and then tracking performance.

Meanwhile, Alphabet, Amazon, Meta and Reddit are all pushing generative AI systems to boost the reach of online ads. Some marketers have used Meta’s offerings to tweak the visual appearance of their ads with hopes of gaining traction with certain audiences, CNBC reported in December.

Founded in 2022, MagicBrief has 14 employees and is based in Canva’s hometown of Sydney, Australia. In 2023, the company announced a $2 million funding round, with investments from Archangel and Blackbird, which was Canva’s first investor. The startup has tens of millions of dollars in annualized revenue, Obrecht said.

Canva, which started up in 2013, has 5,500 employees, with over $3 billion in annualized revenue. It’s one of the companies that venture capitalists are most excited about as an IPO candidate, but Obrecht said there won’t be an offering this year.

The focus, he said, is winning “over the next 10 years,” and not just hitting quarterly numbers.

“We feel that’s very short-sighted, and public markets do gravitate you more to quarter-on-quarter performance,” he said.

— CNBC’s Jonathan Vanian contributed to this report.

WATCH: The design space overall has a lot of room to run, says Bessemer Venture Partners’ Elliott Robinson

The design space overall has a lot of room to run, says Bessemer Venture Partners' Elliott Robinson

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Sam Altman says Meta offered OpenAI staff $100 million bonuses, as Mark Zuckerberg ramps up AI poaching efforts

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Sam Altman says Meta offered OpenAI staff 0 million bonuses, as Mark Zuckerberg ramps up AI poaching efforts

OpenAI CEO Sam Altman speaks during the Snowflake Summit in San Francisco on June 2, 2025.

Justin Sullivan | Getty Images News | Getty Images

Meta Platforms tried to poach OpenAI employees by offering signing bonuses as high as $100 million, with even larger annual compensation packages, OpenAI chief executive Sam Altman said.

While Meta had sought to hire “a lot of people” from OpenAI, “so far none of our best people have decided to take them up on that,” Altman said, speaking on the “Uncapped” podcast, which is hosted by his brother.

“I’ve heard that Meta thinks of us as their biggest competitor,” he said. “Their current AI efforts have not worked as well as they have hoped and I respect being aggressive and continuing to try new things.”

Meta did not immediately respond to a request for comment from CNBC.

The Meta CEO is personally trying to assemble a top artificial intelligence team for its “superintelligence” AI lab and has invested heavily in AI through its Meta AI research division, which also oversees its Llama series of open-source large language models.

The moves come after Meta had once again delayed the release of its latest flagship AI model due to concerns about its capabilities, according to a report from the Wall Street Journal.

Meanwhile, sources have previously told CNBC that Zuckerberg has become so frustrated with Meta’s standing in AI that he’s willing to invest billions in top talent. 

Last week Alexandr Wang, founder of Scale AI, announced he was leaving for Meta as part of a deal that saw the Facebook parent dish out $14.3 billion for a 49% stake in the AI startup. Wang added that a small number of Scale AI employees would also join Meta as part of the agreement. 

What Meta's Scale AI deal reveals about the battle for top AI talent

The Times had previously reported that Wang would head a research lab pursuing “superintelligence,” an AI system that surpasses human intelligence.

The company has also recently poached other top talent, including Jack Rae, a principal researcher at Google’s AI research laboratory DeepMind, according to a report from Bloomberg. The report added that Zuckerberg had been directly involved with the recruitment efforts. 

Speaking on the podcast, which was released on Tuesday, Altman said that Meta’s strategy of offering a large, upfront, guaranteed compensation would detract from the actual work and not set up a winning culture.

“I think that there’s a lot of people, and Meta will be a new one, that are saying ‘we’re just going to try to copy OpenAI,'” he added. “That basically never works. You’re always going to where your competitor was, and you don’t build up a culture of learning what it’s like to innovate.”

However, spending big on startups and their talent is nothing new to the AI space. Former Apple chief design officer Jony Ive joined OpenAI after the company acquired Ive’s AI devices startup io through a $6.4 billion all-equity deal last month.

Some tech analysts have also pushed back against the notion that Meta has been missing the mark on AI.

“They basically built the rails for open source AI development, and so much of what is happening in AI is being built on Meta,” Daniel Newman, CEO at Futurum Group, told CNBC’s “Power Lunch” last week. 

Open-source generally refers to software in which the source code is made freely available on the web for possible modification and redistribution. Llama’s open-source characteristics have allowed many third-party applications to be built on top of it.  

Newman added that Meta’s massive investments, such as in ScaleAI, will continue to push it forward in training its behemoth models.

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Trump to extend TikTok deadline for third time, pushing decision out another 90 days

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Trump to extend TikTok deadline for third time, pushing decision out another 90 days

Muhammed Selim Korkutata | Anadolu | Getty Images

For a third time since taking office in January, President Donald Trump plans to extend a deadline that would require China’s ByteDance to divest TikTok’s U.S. business.

“President Trump will sign an additional Executive Order this week to keep TikTok up and running,” White House Press Secretary Karoline Leavitt said in a statement. “As he has said many times, President Trump does not want TikTok to go dark. This extension will last 90 days, which the Administration will spend working to ensure this deal is closed so that the American people can continue to use TikTok with the assurance that their data is safe and secure.”

ByteDance was nearing the deadline of June 19, to sell TikTok’s U.S. operations in order to satisfy a national security law that the Supreme Court upheld just a few days before Trump’s second presidential inauguration. Under the law, app store operators like Apple and Google and internet service providers would be penalized for supporting TikTok.

ByteDance originally faced a Jan. 19 deadline to comply with the national security law, but Trump signed an executive order when he first took office that pushed the deadline to April 5. Trump extended the deadline for the second time a day before that April mark.

Trump told NBC News in May that he would extend the TikTok deadline again if no deal was reached, and he reiterated his plans on Thursday.

Prior to Trump signing the first executive order, TikTok briefly went offline in the U.S. for a day, only to return after the president’s announcement. Apple and Google also removed TikTok from the Apple App Store and Google Play during TikTok’s initial U.S. shut down, but then reinstated the app to their respective app stores in February.

Multiple parties including Oracle, AppLovin, and Billionaire Frank McCourt’s Project Liberty consortium have expressed interest in buying TikTok’s U.S. operations. It’s unclear whether the Chinese government would approve a deal.

— CNBC’s Kevin Breuninger contributed to this report

WATCH: Project Liberty’s bid for TikTok is aligned with U.S. national security priorities.

Frank McCourt: Project Liberty's bid for TikTok is aligned with U.S. national security priorities

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AWS’ custom chip strategy is showing results, and cutting into Nvidia’s AI dominance

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AWS' custom chip strategy is showing results, and cutting into Nvidia's AI dominance

AWS announces new CPU chip: Here's what to know

Amazon Web Services is set to announce an update to its Graviton4 chip that includes 600 gigabytes per second of network bandwidth, what the company calls the highest offering in the public cloud.

Ali Saidi, a distinguished engineer at AWS, likened the speed to a machine reading 100 music CDs a second.

Graviton4, a central processing unit, or CPU, is one of many chip products that come from Amazon’s Annapurna Labs in Austin, Texas. The chip is a win for the company’s custom strategy and putting it up against traditional semiconductor players like Intel and AMD.

But the real battle is with Nvidia in the artificial intelligence infrastructure space.

At AWS’s re:Invent 2024 conference last December, the company announced Project Rainier – an AI supercomputer built for startup Anthropic. AWS has put $8 billion into backing Anthropic.

AWS Senior Director for Customer and Project Engineering Gadi Hutt said Amazon is looking to reduce AI training costs and provide an alternative to Nvidia’s expensive graphics processing units, or GPUs.

Anthropic’s Claude Opus 4 AI model is trained on Trainium2 GPUs, according to AWS, and Project Rainier is powered by over half a million of the chips – an order that would have traditionally gone to Nvidia.

Read more CNBC tech news

Hutt said that while Nvidia’s Blackwell is a higher-performing chip than Trainium2, the AWS chip offers better cost performance.

“Trainium3 is coming up this year, and it’s doubling the performance of Trainium2, and it’s going to save energy by an additional 50%,” he said.

The demand for these chips is already outpacing supply, according to Rami Sinno, director of engineering at AWS’ Annapurna Labs.

“Our supply is very, very large, but every single service that we build has a customer attached to it,” he said.

With Graviton4’s upgrade on the horizon and Project Rainier’s Trainium chips, Amazon is demonstrating its broader ambition to control the entire AI infrastructure stack, from networking to training to inference.

And as more major AI models like Claude 4 prove they can train successfully on non-Nvidia hardware, the question isn’t whether AWS can compete with the chip giant — it’s how much market share it can take.

The release schedule for the Graviton4 update will be provided by the end of June, according to an AWS spokesperson.

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