Anthropic CPO leaves Figma’s board of directors after reports that it will introduce a competing product

Mike Krieger, chief product officer at Anthropic, resigned from the board of interface design company Figma on April 14.

His departure was disclosed to the US Securities and Exchange Commission by the publicly traded $10 billion company on the same day The Information was published. I mentioned Anthropic’s next model, Opus 4.7, will include design tools that can compete with Figma’s basic offering.

Figma is a popular tool developer for user experience designers who build interfaces for websites and apps. The company has collaborated closely with Anthropic to integrate Frontier Lab’s AI models into its products as assistants for its users.

Krieger, who previously co-founded Instagram and the AI-powered news app Artifact, became chief product officer at Anthropic in 2024 and joined Figma’s board less than a year ago.

Krieger’s departure and any upcoming design tools will be another data point for investors to fear SaaSpocalypse – That the largest AI labs will dominate software companies, a thesis that has rattled public markets at times this year. For example, iShares’ primary ETF, IGV, is down nearly 18% this year.

Anthropic, meanwhile, is Investors rejected Who want to buy into the company at $800 billion – more than double the valuation from the last round at the beginning of the year.

But companies like Anthropic and OpenAI have yet to prove that their super-powered models can truly replicate the domain experience and relationships of established software brands. Figma’s share price has risen 5% since Krieger’s departure was revealed, though we’ll see what happens with the next Opus release.