Canva has bought AI image generation company Leonardo AI for more than $320 million in a move that has split the industry between those deriding it as a “saviour” purchase and others who see it as a smart defensive move.

Canva, Australia’s largest private technology company, announced it had bought the Sydney-based Leonardo on Tuesday at a price both sides refused to disclose. Even venture capital funds invested in Leonardo kept the price secret from their own backers.