Figma is integrating OpenAI Codex to let design work be created and tweaked directly from coding environments, bridging design and code workflows.

The integration deepens an ongoing partnership that includes a ChatGPT app and enterprise adoption, with Codex usage surpassing 1 million weekly users and a 400% year-to-date increase, drawing in large enterprises like Cisco, NVIDIA, Ramp, and Datadog.

A cross-platform flow is enabled by Figma’s Mobile Context Protocol, allowing seamless switching between Figma and Codex for iterative development across devices.

Figma’s valuation highlights show an 86% gross margin in Q4 and a path to positive operating leverage through seat and credit expansion.

Monetization potential centers on AI credits and seat-based revenue, with about three-quarters of paid customers using AI credits weekly.

Internal tests indicate roughly 35% of Cursor’s pull requests are generated autonomously by agents on dedicated virtual machines, signaling major efficiency gains.

CFO notes efficiency improvements reducing cost per user, supporting stable gross margins amid ongoing AI and infrastructure investments.

Governance emphasis includes model selection, prompt management, audit trails, and anchoring generation to a single source of truth like a versioned design system.

Analyst target price implies strong upside, with a potential 133% total return from current levels.

Cursor’s valuation around $29.3 billion and over $1 billion in annualized revenue as of November underscores its competitive stance, with rivals like Claude Code, Codex, and GitHub Copilot cited at high run rates.

Competitive landscape notes Claude Code over $2.5 billion run-rate, Codex over 1.5 million weekly users, and Copilot with over 26 million users, framing the scale of rivals.

Cursor unveiled a major upgrade to its AI coding agents to strengthen position amid intensified competition from Anthropic, OpenAI, and Microsoft, with agents that iteratively test and refine features until completion.