Adobe failed merger with Figma leaves it with $6B, Bloomberg says

Adobe’s failed merger with Figma has left the company with $6B, which it will likely use to accelerate artificial intelligence development and buy back stock, Brody Ford and Katie Roof of Bloomberg report. The area of issue is how Adobe will address the competitive pressures that initially sparked the acquisition in the first place. When the deal was first struck, investors worried Adobe’s core portfolio was running out of room to grow, especially with the deal’s high price. In 2023, the company’s stock did very well as Adobe invested in generative AI, launched new features, and built proprietary models, however, some analysts say the long-term threat to the company’s portfolio remains.