A major risk to this bullish thesis is if the Figma acquisition gets blocked by regulators.

Source: https://seekingalpha.com/article/4570382-adobe-figma-acquisition-is-expensive-but-worth-it?source=feed_all_articles

Born on the web, Figma helps teams brainstorm, design, and build better products—from start to finish.

Source: https://seekingalpha.com/article/4570382-adobe-figma-acquisition-is-expensive-but-worth-it?source=feed_all_articles

He added that Figma had continued to expand during the past 15 months, more than doubling its work force to 1,300 and acquiring Diagram, an A.I.-based start-up.

Source: https://www.nytimes.com/2023/12/19/business/dealbook/figma-deal-adobe.html

The UK's Competition and Markets Authority (CMA) has objected to Adobe's acquisition of graphic design company Figma, adding to the EU and US concerns about the deal.

Source: https://www.computerworld.com/article/3711368/uk-says-adobes-20b-deal-for-figma-would-hurt-graphic-design-market.html

They’re using it internally for improved code search, code generation (not yet benchmarked but expected to be competitive in UI creation in particular) and an image-to-code process whereby Figma and Adobe files can be turned directly to in-game UI.

Source: https://techcrunch.com/2023/08/30/betaworks-goes-all-in-on-augmentative-ai-in-latest-camp-cohort-were-rabidly-interested/