Alphabet's Secret Portfolio Takes a Hit as Figma Falls 85%

Alphabet's investment portfolio has seen Figma (FIG) as its worst performer, with shares declining 85% from its post-IPO high. Figma's business faces pressure from Google's Project Genie, which can generate interactive 3D environments from text prompts. Other AI-pressured software stocks have seen similar declines. Alphabet's secret portfolio now values Figma at $11.18 million, down from $11.18 million at the end of Q3.