Anthropic's chief product officer Mike Krieger left Figma's board on April 14 after reports that Anthropic's upcoming Opus 4.7 model will include design tools that could directly compete with Figma's core product. Krieger had joined Figma's board less than a year ago and is now a top executive at Anthropic, creating a potential conflict of interest — the two companies have previously collaborated on AI integration. This move reflects broader investor anxiety about AI labs cannibalizing SaaS companies by building competing features directly into their models, a trend that has already pressured software stocks (the iShares software ETF is down 18% in 2026). Anthropic is currently declining investor funding offers at $800 billion valuations, suggesting confidence in its competitive positioning despite the legal and business complexities of competing with former partners.