Canva Acquires AI Image and Video Generator Leonardo.ai, Will Integrate It Into Magic Studio Tools

Canva acquired Australia-based artificial intelligence (AI) startup Leonardo.ai on Tuesday. The AI startup uses its native foundation model Phoenix to generate images, videos, and create visual assets. The platform also offers features such as AI-powered upscaling, inline editing, and real-time image generation. Canva said that the Phoenix AI model will be integrated …