Figma IPO Approaches 40 Times Oversubscribed Ahead of Trading Debut
Figma's initial public offering is approaching 40 times oversubscribed according to sources familiar with the matter, positioning it as potentially the year's most in-demand listing. The San Francisco-based design and collaboration software company raised its price range to $30-$32 per share from an initial $25-$28 range, and is expected to price above the marketed range. The company and existing shareholders are offering 36.9 million shares, which could raise as much as $1.2 billion and value Figma at up to $15.6 billion, or roughly $18 billion on a fully diluted basis. The order book was set to close on Wednesday, July 30, with shares expected to begin trading on the New York Stock Exchange under the ticker "FIG".
Figma structured its IPO more like an auction than a traditional listing, requiring prospective investors to state precisely the number of shares they want and at what price, rather than submitting typical market orders. This auction-style approach, which was popular during the pandemic-era IPO boom, comes as U.S. IPOs work to regain momentum following April's tariff-driven market slump. The IPO is being led by Morgan Stanley, Goldman Sachs, JPMorgan, and Allen & Co. The strong demand reflects Figma's position following the collapse of a planned $20 billion acquisition by Adobe in 2023, which was blocked by regulators due to antitrust concerns.
For uristocrats seeking exposure to AI stocks in public markets, the current landscape offers several established options alongside emerging opportunities. Established players include Nvidia, which dominates AI chip manufacturing with a market cap exceeding $3 trillion, Microsoft through its OpenAI partnership, and Alphabet via Google's AI initiatives. Recent IPOs have provided new AI investment vehicles, with CoreWeave completing its March 2025 debut as perhaps the closest pure-play AI stock, focusing specifically on cloud infrastructure designed for AI workloads. Market forecasts estimate the AI sector's compound annual growth rate will exceed 18% overall, with generative AI services potentially growing as high as 75% CAGR over the next five years, though AI stocks remain volatile, with indices experiencing significant swings on news such as DeepSeek developments and tariff implementations.
Sources:
- Bloomberg - "Figma's $1.2 Billion IPO Approaching 40 Times Oversubscribed"
- Capital Brief - "Figma IPO demand nears 40 times oversubscribed"
- The Motley Fool - "Best AI Stocks for 2025: Artificial Intelligence Investing"
- Morningstar - "Is AI Investment Poised for Growth? Top Picks and Promising Applications for 2025"
