Good morning. It’s Wednesday, November 4.
Canva is cutting 22% of its workforce, about 1,270 people, and its CEO calls it the company’s hardest moment in 13 years. Growth has slowed for the first time in a decade as rising AI costs and chatbot rivals squeeze the business.
Today we are covering:
Canva cuts 22% of its workforce, about 1,270 jobs, after growth slows for the first time in a decade
OpenAI is buying Pierre Computer, a Git storage startup, in a move aimed at Microsoft’s GitHub
AI data center stocks slip after Democrats win Congress, while clean energy surges
