Mike Krieger has stepped down from the board of Figma as disclosures indicate Anthropic is preparing a new model that may include design-related features overlapping with Figma’s core product area.
Board Departure Coincides With Report On Upcoming Model
Krieger’s resignation took place on April 14 and was disclosed to the U.S. Securities and Exchange Commission by Figma the same day that The Information reported details about Anthropic’s upcoming model, Opus 4.7.
The report states that Opus 4.7 will include design tools, raising the possibility of competition with Figma’s primary offering in interface design.
Figma And Anthropic Maintain Prior Collaboration
Figma develops tools widely used by user experience designers to create interfaces for websites and applications. The company has worked with Anthropic to integrate its AI models into Figma’s platform as assistant features for users.
Krieger joined Anthropic as chief product officer in 2024 and became a member of Figma’s board less than a year prior to his resignation. Before Anthropic, he co-founded Instagram and later worked on the AI-driven news app Artifact.
Investor Concerns Around AI Impact On Software Sector
Krieger’s departure and the reported development of design tools contribute to investor concerns about large AI labs entering established software markets. This concern is often described as the “SaaSpocalypse,” referring to the possibility that AI companies could displace traditional software providers.
Market data reflects some of this pressure. The iShares Expanded Tech-Software Sector ETF (IGV) has declined by nearly 18% this year.
Anthropic Valuation Interest And Market Response
Anthropic has reportedly declined investor interest at an $800 billion valuation, more than double its valuation from its most recent funding round earlier in the year.
At the same time, established software companies continue to demonstrate market resilience. Figma’s stock has increased by approximately 5% since Krieger’s departure was disclosed, as observers await further details on the Opus 4.7 release.
Featured image credits: Wikimedia Commons
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