tech
Figma's stock drops 12% in two days after Google releases 'vibe design' product
Figma's stock has been getting hammered on concerns about AI, and Google's new design product is adding to that anxiety.
TL;DR
- Figma's stock dropped 8% on Wednesday and over 4% on Thursday, following Google's introduction of its AI-powered design product, Stitch.
- The decline adds to Figma's 35% drop this year, driven by broader AI concerns in the software industry.
- Google's Stitch allows users to generate designs from prompts and offers real-time design critiques.
- Adobe's stock also saw a decline of about 3% over the same two-day period.
- Google and Figma have an existing partnership, integrating Google's generative AI technology into Figma's platform.