Canva says its AI features are worth the 300 percent price increase

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1. Canva says its AI features are worth the 300 percent price increase

Canva's subscription prices are set to rise by over 300 percent next year due to the company's aggressive rollout of generative AI features. Canva Teams, a business-oriented subscription, will see subscription increases from $120 per year for up to five users to $500 per year.

In the US, some users are reporting subscription increases from $120 per year to $500 per year, with a 40% discount applied to bring it down to $300 for the first 12 months. Canva's premium pricing is a stark pivot for the platform, which was once considered a simple and affordable alternative to more expensive graphic design software.

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2. Salesforce to acquire AI voice agent firm Tenyx, joining AI talent race

Salesforce has agreed to acquire Tenyx, a California-based startup that develops AI-powered voice agents, to advance its AI-driven solutions. The acquisition, expected to close in the third quarter, will see Tenyx's co-founders, CEO Itamar Arel and CTO Adam Earle, join Salesforce.

Salesforce is looking at acquisitions to re-accelerate revenue growth, echoed by similar deals by Microsoft and Amazon this year, highlighting the increasing competition for AI tools and talent.

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3. Elon Musk’s just fired up Colossus—the world’s largest Nvidia GPU supercomputer

X has launched the Colossus supercomputer, the world's most powerful AI training system. The system uses up to 100,000 Nvidia H100 GPUs for training and is set to expand with another 50,000 Nvidia H100 and H200 GPUs in the coming months.

Dell, the head of the high-tech giant, developed and assembled the Colossus system quickly, highlighting the server maker's experience deploying AI servers during the AI boom. Elon Musk and his companies have been making supercomputer-related announcements, including Tesla's Cortex AI cluster and X's Memphis Supercluster.

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4. Nvidia plunges almost 10% as global markets fall

UK shares fell on Wednesday morning following falls in Asian and US markets, as concerns grow about the world's largest economy. US manufacturing activity remains subdued, with investors now focusing on US jobs figures due on Friday. American chip giant Nvidia was hit hard, slumping by almost 10% as optimism about the AI boom dampened. Despite the sharp fall, Nvidia's shares are still worth double their value a year ago.

The FTSE 100 index, which comprises the largest companies on the London Stock Exchange, dropped 0.55% by lunchtime, while major European indexes also fell. Market watchers are now trying to second-guess how the Federal Reserve, the US central bank, will respond when it meets to decide interest rate policy next week.

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5. Meta’s Transfusion model handles text and images in a single architecture

Researchers from Meta and the University of Southern California have introduced Transfusion, a new technique that enables a single model to handle both discrete and continuous modalities.

This approach combines the best of both worlds in a natural and simple way, allowing a single model to process and generate both text and images without the need for quantization or separate modules. The model includes lightweight modality-specific components that convert text tokens and image patches into the appropriate representations before processing by the transformer.

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