"Krieger's departure and any forthcoming design tools will be another data point for investors who fear the SAASpocalypse - that the largest AI labs will come to dominate software businesses, a thesis which has rocked public markets at times this year."
"Anthropic, meanwhile, is turning down investors who want to buy into the company at $800 billion - more than double the valuation from its most recent round at the beginning of the year."
"But companies like Anthropic and OpenAI still have to prove their ultra-capable models can truly replicate the domain experience and relationships of established software brands."
Mike Krieger resigned from Figma's board on April 14, as disclosed to the U.S. Securities and Exchange Commission. His departure coincides with Anthropic's upcoming model, Opus 4.7, which will feature design tools that may compete with Figma. Figma, known for its user experience design tools, has collaborated with Anthropic to integrate AI models into its products. Krieger, who joined Anthropic in 2024, left Figma less than a year after joining. Figma's stock rose 5% following the announcement of his resignation.
Read at TechCrunch
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