Figma (FIG) is trading 3.7% up at $17.47 today, staging a modest rebound after recent sharp declines. - The rally follows the company's Config 2026 conference, where it unveiled new AI-powered updates, including a code layer, motion/shader support, and custom plugin options. - Investors are reassessing the company's long-term AI growth narrative and Q1 results, despite recent analyst price target cuts and ongoing concerns about valuation and margin pressure.