•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Shares of Figma (FIG) pulled back last month even as the broader market moved higher, as investors increasingly focused on the risk that AI could disrupt design software. The sell-off intensified after Anthropic introduced new AI products and faced additional controversy around its AI capabilities.
Anthropic released a new product called Claude Design, and Figma stock fell sharply on the news. Around the same period, Anthropic’s Chief Product Officer, Mike Krieger, stepped down from Figma’s board soon before the company announced that.
Separately, the market also reacted to the “kerfuffle” around Anthropic’s Mythos AI, which was reportedly too powerful to be released to the public. That issue weighed on Figma and on software-as-a-service (SaaS) stock peers.
According to data from S&P Global Market Intelligence, Figma finished the month down 16%. The stock took three steps lower during the quarter.
There was little company-specific news from Figma last month. Instead, pressure tied to Anthropic, along with a sell-off in sympathy with ServiceNow’s post-earnings decline, pushed the stock into negative territory even as the S&P 500 rose 10.4% for the month.
The decline began on April 8 after Anthropic announced its new Mythos AI model, described as powerful enough to bypass conventional cybersecurity protocols. The news contributed to a broader drop in software stocks as investors renewed concerns that AI start-ups could disrupt cloud software companies such as Figma. Figma fell 14% over a three-day span after the Mythos news.
Figma briefly surged on April 15 after the S&P 500 topped 7,000 for the first time. However, the stock then fell 7% after Anthropic launched Claude Design. The tool is described as enabling users “to create polished visual work like designs, prototypes, slides,” and more—functionality similar to what Figma offers.
Figma fell again the following week as software stocks dropped in response to reports from ServiceNow and IBM that were not strong enough to change the narrative that cloud stocks face pressure from AI.
Figma received a bounce on May 1 after earnings reports from Atlassian and Twilio suggested the SaaS sector may be more resilient than investors had expected.
Figma’s first-quarter report is due out on May 14. Analysts expect revenue of $316 million, up 38.5% from the quarter a year ago, and adjusted per-share profit of $0.06.
The earnings report is expected to be a key test for the stock given the recent pressure on Figma. Investors are likely to focus on any commentary related to the threat from Anthropic and on Figma’s plans to grow in the AI era.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
