Figma's stock soared 5.11% during intraday trading on Wednesday, marking a significant upward movement for the design-software company.

The surge appears driven by investor optimism surrounding the company's strategic artificial intelligence partnerships and anticipation of its upcoming quarterly earnings report. Figma recently announced a partnership with Anthropic, developer of the Claude AI model, which allows users to convert AI-generated code into designs. This follows other collaborations with AI leaders OpenAI and Alphabet.

Analysts expect Figma to report strong fourth-quarter results after the market close, with revenue forecast to grow 35% year-over-year to $293 million. The positive market reaction suggests investors are betting that these AI initiatives and expected financial performance could help the stock recover from its recent decline and change its narrative as a post-IPO company.