Table of Contents

• Figma

• Nvidia

Top Stories Today

Figma

Figma has confidentially filed for a U.S. IPO, over a year after its planned $20 billion acquisition by Adobe was blocked by antitrust regulators in Europe and the UK. The cloud-based design company, valued at $12.5 billion in a secondary share sale last year, delayed going public due to market instability tied to tariff-related concerns. Figma provides digital design tools for web and app creation and serves clients like Google, Uber, and Spotify. Co-founded by Dylan Field in 2012, the firm is profitable and has expanded its platform to support team collaboration and AI-powered features.

Nvidia

Nvidia said Tuesday it will take a $5.5 billion charge this quarter due to new U.S. rules requiring a license to export its H20 AI chips to China and other countries, a move that sparked a broad selloff in tech stocks. Shares of Nvidia dropped 8%, dragging down rivals like AMD and Micron, and contributing to a wider market decline that saw the S&P 500 fall 2.2%, the Nasdaq 3.2%, and the Dow 1.5%. The H20 chip, which had generated an estimated $12–15 billion in 2024 revenue, is now subject to indefinite export restrictions. Sales in China—Nvidia’s fourth-largest market—have already halved under earlier curbs, and new “AI diffusion” rules are expected to tighten controls further. While Nvidia emphasized compliance with U.S. law, it warned additional limits could harm innovation. The selloff deepened after Fed Chair Jerome Powell said Trump’s tariffs might hinder the central bank’s ability to support growth. Since the April 2 tariff announcement, major indexes have dropped 5–6%.

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