Adobe expands Firefly AI tools to mobile devices, faces competition from Canva.

Adobe Inc. (NASDAQ:ADBE) is ranked among the best FAANG stocks to buy according to hedge funds. Despite competition from Canva, Adobe continues to innovate by expanding its Firefly AI tools to mobile devices, offering features like text-to-image and text-to-video. Canva recently acquired MagicBrief, an AI-powered ad platform, for approximately $10 million. Adobe’s Firefly platform has seen a 30% increase in traffic quarter-over-quarter. Adobe is a global leader in software creation, known for products like Photoshop and Acrobat. Looking for undervalued AI stocks? Check out our report on the best short-term AI stock.

Read more at Yahoo Finance: Adobe Faces Canva Competition, Expands Firefly AI Tools to Mobile Devices