Figma’s Future Amid AI Speculation
On Thursday, Figma (FIG) co-founder and CEO Dylan Field expressed his belief that artificial intelligence, including the idea of ‘superintelligence,’ is not a significant immediate threat to the company’s future. In an interview on CNBC’s Squawk Box, Field shared his skepticism about the rapid development of AI capabilities that might outpace human skills.
AI’s Long-Term Potential
Field acknowledged that while AI could eventually transform various industries, Figma currently remains secure in its position. He emphasized the complexity of Figma’s technology, stating that its graphics engine and design architecture are difficult to replicate, even by sophisticated AI systems. This reassures Figma’s investors at a time when major tech companies increase their focus on advancing superintelligence.
Market Performance
Figma made its debut on the New York Stock Exchange on Thursday under the ticker “FIG,” launching with an initial share price of $33, surpassing its anticipated range of $25 to $28. Remarkably, by the end of the trading day, the stock surged 250% to reach $115 per share, resulting in a market valuation of approximately $67.6 billion.
Previous Acquisition Attempt
It is important to note that Figma had previously entered into a $20 billion acquisition agreement with Adobe (ADBE), which fell through in December 2023 due to regulatory hurdles.
Investor Outlook
Wall Street analysts view Figma as a promising high-growth SaaS company known for its robust gross margins and strong customer retention. While some analysts express concerns regarding its valuation, many believe that the product’s stickiness offers a significant competitive edge. Therefore, investor sentiments lean towards positive growth expectations for the company.
