Adobe’s Focus Isn’t Figma Any More as Regulator Lawsuit Looms

Adobe Inc.’s proposed $20 billion acquisition of Figma was a cornerstone of the creative giant’s plan to become cool again.

But more than a year after the deal for the digital-design startup was announced, it has stalled due to regulatory challenges, and the software company’s attention has moved on to the next big thing — artificial intelligence.

Adobe’s focus at its annual conference in Los Angeles this week was on new generative artificial intelligence features in signature products like Photoshop. There were no mentions of Figma during keynote speeches, and only one reference during an hourslong investor ...