AI
Synopsys revenue forecast beats estimates on AI chip boom, shares up
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Synopsys on Wednesday forecast second-quarter revenue above Wall Street estimates, citing growing demand for its software used in designing chips. The company’s shares rose 2.45% to $482 in after-hours trading after the results were released.
Companies such as Amazon, Google and Apple are investing in designing their own chips, as are carmakers and other businesses, helping drive demand for Synopsys’ software.
The company sees second-quarter revenue between $1.59 billion and $1.62 billion, the midpoint of which is slightly above analysts’ estimates…
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