Why Figma (FIG) CEO Doesn’t Think AI Is an Immediate Threat to the Business

Figma (FIG) co‑founder and CEO Dylan Field said on Thursday that artificial intelligence, including the concept of “superintelligence,” is unlikely to pose a major threat to the design platform’s future. Speaking on CNBC’s Squawk Box, Field stated that although some people believe AI may soon surpass human abilities, he is skeptical that this will happen quickly. He also said that while AI could eventually become powerful enough to reshape industries, Figma’s current position isn’t immediately at risk.

Furthermore, Field explained that Figma’s technology is hard to replicate, even for advanced AI. In fact, its complex graphics engine and design architecture aren’t widely available in public code repositories or training datasets, therefore making it difficult for AI systems to copy. This is undoubtedly reassuring for the firm’s investors, especially as major tech firms intensify their push for superintelligence. Notably, Meta (META) CEO Mark Zuckerberg has been the most aggressive in this regard by investing billions of dollars to hire top AI talent.

Nevertheless, Figma began trading on the New York Stock Exchange on Thursday under the ticker “FIG,” with an initial share price of $33, which was above the company’s expected range of $25 to $28. However, the stock price skyrocketed by 250% in Thursday’s trading to $115 per share. As a result, this pricing values the company at $67.6 billion. Interestingly, Figma had previously agreed to a $20 billion acquisition by Adobe (ADBE), but that deal collapsed in December 2023 due to regulatory objections.

Is FIG Stock a Good Buy?

Turning to Wall Street, analysts see Figma as a high-growth SaaS firm with strong gross margins and retention rates. Although some are cautious about its valuation, most see its product stickiness as a key advantage in its market. As a result, investors expect it to continue growing.