Stock Movers: Figma, Cerebras, Cisco
Figma’s stock surged 10% after reporting higher-than-expected revenue growth driven by AI feature monetization, despite remaining 39% below its $33 IPO price. Cerebras Systems made its debut with a 68% jump, raising $5.5 billion—the largest IPO of 2026—while Cisco’s shares hit a 14-year high after strong AI-focused sales forecasts and announced job cuts.
Figma’s shares rose about 10% in extended trading after the company reported revenue growth exceeding analyst expectations, citing early success from charging users for AI-powered features. The stock closed at $20.24 in New York, though it remains 39% below its $33 initial public offering price, reflecting a steady decline since its debut. Cerebras Systems (CRBS) saw its shares jump 68% on its trading debut, marking the largest IPO of 2026 with $5.5 billion raised. The Sunnyvale, California-based AI chip manufacturer priced shares above its revised range at $185, closing at $311.07 after volatility halted trading. Demand far exceeded expectations, with proceeds nearly 60% higher than the initial target. Cisco’s stock reached its highest level in over 14 years following a better-than-expected sales forecast and plans to cut thousands of jobs. The company emphasized a strategic shift toward the booming AI market, which drove investor confidence. Figma’s revenue outlook highlighted direct monetization of AI tools as a key growth driver, contrasting with its earlier free-tier model. Analysts noted the move signals broader industry trends toward AI-driven revenue streams. Cerebras’ debut underscored strong investor appetite for AI infrastructure, particularly data center chips. The company’s ability to attract massive funding reflects optimism about AI hardware demand. Cisco’s job cuts and sales forecast suggest a pivot toward AI-centric products amid broader market consolidation. The stock’s surge reflects confidence in its ability to capitalize on AI growth despite workforce reductions.
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