Figma’s Board Loses Anthropic Product Chief as AI Model May Challenge Core Design Tools

Figma’s shares rose nearly 5% after its board lost Mike Krieger, Anthropic’s Chief Product Officer, on April 14. Krieger’s resignation came the same day Figma officially notified the SEC of his departure and as reports emerged that Anthropic’s upcoming Opus 4.7 model may include design tools that could challenge Figma’s core offerings. Figma relies on Anthropic’s AI models to power its user-assistant features, making the timing of Krieger’s exit and the announcement of Opus 4.7 particularly significant. Krieger, who previously co-founded Instagram and the AI project Artifact, joined Figma’s board less than a year ago. His departure adds to investor unease over the potential for large AI labs to disrupt traditional software markets, a concern reflected in the nearly 18% drop in the iShares software ETF IGV this year. Anthropic, meanwhile, has rebuffed offers to buy a stake in the company at a valuation of $800 billion, more than double its value at the start of 2024. The ultimate impact of Opus 4.7 on Figma and the design industry will depend on the model’s capabilities and Anthropic’s strategic direction.