Figma says it’s hiring less because of AI. Wall Street doesn’t seem impressed

Shares of Figma Inc (NYSE: FIG) are down more than 14% in premarket trading on Thursday as investors appear to be having doubts about its heavy investments in AI. On Wednesday, August 5, the design software firm published its second quarter earnings report, including $426.9 million in operating expenses—nearly double year over year (YOY). The largest chunk of expenses came from research and development, at $167.3 million for the quarter, compared to $83.1 million the year before. Figma...