Tech Voices: Microsoft hacking alert, X vs. France, Figma IPO

Seeking Alpha’s daily roundup of statements, announcements and remarks that could impact the technology sector.

• Microsoft (NASDAQ:MSFT) is warning users of its widely used SharePoint software to be on the alert for cyberattacks.

“Microsoft is aware of active attacks targeting on-premises SharePoint Server customers by exploiting vulnerabilities partially addressed by the July Security Update,” the software giant said on Saturday. “These vulnerabilities apply to on-premises SharePoint Servers only. SharePoint Online in Microsoft 365 is not impacted.”

The company issued security patches for SharePoint Subscription Edition and SharePoint 2019 on Sunday night, adding that it was working on updates for SharePoint 2016.

• Elon Musk’s social media platform X won’t hand over data requested by the French government, which has launched a criminal investigation into the company over suspected algorithm manipulation.

“X remains in the dark as to the specific allegations made against the platform. However, based on what we know so far, X believes that this investigation is distorting French law in order to serve a political agenda and, ultimately, restrict free speech,” the company said in a lengthy post on X.

“For these reasons, X has not acceded to the French authorities’ demands, as we have a legal right to do. This is not a decision that X takes lightly. However, in this case, the facts speak for themselves,” X added.

Tesla (TSLA) CEO Elon Musk bought X, formally known as Twitter, in 2022. The platform is now owned by another Musk company, xAI.

• Design software company Figma (FIG) could be valued as much as $16.4 billion if it follows through with its IPO plans, according to Reuters.

Figma said in an SEC filing on Monday that it is looking to price 12.47 million shares at between $25 and $28 per share. Selling stockholders will be offering 24.46 million shares. The combined sales would generate proceeds of around $1.03 billion if the shares are priced at $28 apiece.

The company plans to list its stock on NYSE.