Adobe和Figma均获得BTIG的谨慎认可，其犹豫的根本原因在于AI将从现在开始如何改变一切。
从表面上看，Adobe依然强劲。它是创意软件领域无可争议的领导者，年收入约240亿美元，利润率令大多数公司难以企及。但目前的问题不在于Adobe今天的地位，而在于随着AI开始重塑内容创作方式，接下来会发生什么。BTIG实际上认可Adobe在AI方面的布局，甚至认为其估值看起来合理，但尚未准备好全面投入。
Figma处境类似，只是处于更早期的阶段。市场对其AI工具充满热情，尤其是使用量正在迅速增长。但一旦用户开始为这些功能付费，有多少需求能够持续尚不清楚。这正是BTIG希望进一步观察的部分。
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