Shares of design platform Figma (FIG) jumped 7% on Monday after OpenAI CEO Sam Altman promoted its technology during a live demo at OpenAI’s DevDay conference in San Francisco. Indeed, he highlighted how Figma can now be integrated into ChatGPT by using OpenAI’s new Apps SDK, which is a tool for developers to connect their apps to ChatGPT. Altman explained that users can simply name Figma in a conversation, and ChatGPT will hand off the task to the Figma app to complete it.
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Notably, Figma can also be recommended automatically by ChatGPT when it’s relevant, according to a blog post by Figma product manager Luke Zhang. Altman also shared that users will soon be able to log in to tools like Figma without leaving ChatGPT, thereby making it easier to stay productive. For example, users working on Figma projects will be able to launch FigJam for brainstorming and development right from ChatGPT.
In addition, Altman said that developers will be able to start submitting their apps for review sometime in 2025. Looking ahead, OpenAI plans to roll out more ways for developers to make money by integrating their tools into ChatGPT. At the same time, Figma has been expanding its design tools by incorporating AI models from OpenAI and other sources to help users create apps and websites more efficiently.
Is FIG Stock a Good Buy?
Turning to Wall Street, analysts have a Hold consensus rating on FIG stock based on two Buys, seven Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average FIG price target of $67.57 per share implies 18.6% upside potential.
