Recent investor marks from T. Rowe Price ($38.2 billion) and Blackbird Ventures ($34.9 billion) in 2026 filings have pulled Canva’s implied private valuation below the $42 billion August 2025 tender benchmark, driven by tempered revenue growth forecasts (now ~20% for 2026 versus prior 30% targets) and elevated AI infrastructure costs against roughly $4 billion in annualized recurring revenue. Secondary trading data and fund marks as of October 2026 cluster near $37 billion, with limited new capital raises or positive catalysts evident in the final weeks before October 31. Traders monitoring Nasdaq Private Market prints will weigh any late secondary activity against these downward revisions and Canva’s ongoing AI integrations, including the recent MagicBrief acquisition.