Anthropic launched the collaborative AI tool Claude Design on April 17, 2026. This software generates and refines designs through conversational dialogue. Simultaneously, Anthropic Chief Product Officer Mike Krieger resigned from Figma’s board of directors.
Figma shares sold off as investors viewed generative AI as a replacement for design workflows. The company also faces competition from Google’s AI design tool, Stitch. These events have contributed to a significant decline in Figma’s valuation from its peak.
The shift in the competitive landscape places Figma and Adobe in a position of shared adversity. New AI challengers now threaten the dominance of traditional design software providers.