Cadence raises annual forecasts as demand booms for AI chip design
Cadence Design Systems raised its annual revenue and profit forecasts on Monday, banking on robust demand for its AI-powered chip and system design software.
Shares of the company rose more than 5% in extended trading.
The company’s electronic design automation (EDA) tools are used to design and validate semiconductors and electronic systems.
Demand has risen sharply for Cadence’s software as chipmakers and technology companies develop increasingly sophisticated systems-on-chip (SoCs) and AI accelerators.
