Figma's AI Outlook, Blue Owl Stokes Credit Concerns | Bloomberg Businessweek Daily 2/19/2026

Why It Matters

Figma’s AI‑powered growth could revive confidence in design‑software stocks, whereas Blue Owl’s withdrawal freeze highlights liquidity vulnerabilities in the booming private‑credit market, prompting investors to reassess risk exposure.

Key Takeaways

• Figma shares jump 8% after strong Q4 earnings outlook
• Revenue hit $304 million, 40% year‑over‑year growth in quarter
• Over 75% of large customers now consume AI credits weekly
• Blue Owl restricts withdrawals, sparking private‑credit market anxiety
• VIX rises toward 21 as geopolitical tensions pressure markets

Summary

Bloomberg Businessweek Daily highlighted two contrasting stories on Thursday, February 19: Figma’s AI‑driven growth trajectory and Blue Owl Capital’s liquidity curtailment in a private‑credit fund. The market backdrop featured modest equity declines, a VIX edging toward 21, and oil prices above $66 a barrel amid heightened geopolitical risk.

Figma reported its best quarter yet, posting $304 million in revenue and a 40% year‑over‑year increase. CEO Dylan Field emphasized that AI improvements directly boost the platform, noting that more than 75% of customers with ARR above $10 K now consume AI credits weekly and that weekly active users of the new Figma Make feature rose 70% quarter‑over‑quarter. The company also unveiled an integration with Cloud Code, positioning Figma as a central hub for design‑to‑code workflows.

Blue Owl Capital, meanwhile, announced a restriction on withdrawals from one of its flagship private‑credit funds, triggering a sharp sell‑off in its shares and reigniting concerns about liquidity in the $1.8 trillion private‑credit market. Analysts warned that the move could signal deeper stress in a sector already under scrutiny for opaque risk structures.

The dual narratives underscore divergent investor themes: Figma’s AI‑centric product expansion may restore confidence in SaaS valuations, while Blue Owl’s withdrawal limits serve as a cautionary tale about hidden credit risks. Both stories suggest that technology adoption and credit‑market transparency will shape capital allocation decisions in the coming months.

Original Description

On today's episode of Bloomberg Businessweek Daily, Carol Massar and Tim Stenovec discuss Figma's latest earnings results with CEO Dylan Field as the platform sees revenue top estimates and issues a strong growth outlook that eases broader AI fears. Then, Bloomberg News Leveraged Finance Reporter Olivia Fishlow has the latest on Blue Owl as the alternative asset manager announces a decision to restrict withdrawals from one of its private credit funds. Plus, Wayfair CFO Kate Gulliver joins to discuss the company's earnings results as shares fall Thursday on first quarter guidance, even as the online furniture retailer looks to expand its physical store footprint and lure rewards program members. Finally, Boston Children’s Hospital Chief Medical Officer Dr. Joan LaRovere joins to discuss US health policy, AI use cases and training in hospitals, and more.

Chapters:

00:00:00 - Bloomberg Businessweek Daily Begins

00:05:28 - Dylan Field, Figma CEO, Co-Founder & President

00:16:47 - Olivia Fishlow, Bloomberg News

00:21:41 - Kate Gulliver, Wayfair Chief Financial Officer

00:34:58 - Dr. Joan LaRobere, Boston Children’s Hospital Chief Medical Officer

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