The Trump administration has reversed restrictions on exporting chip design software to China, a move tied to efforts to ease US-China trade tensions following a deal reached in London. American firms Cadence Design Systems Inc (NASDAQ:CDNS) and Synopsys Inc (NASDAQ:SNPS, ETR:SYP), along with Germany's Siemens, confirmed the US Commerce Department had lifted controls introduced in May.
Siemens, Synopsys and Cadence said the U.S. has lifted export controls restricting sales and business in China.
The United States government has lifted restrictions on exports of chip design software to China, sending shares of top sector players higher on Thursday morning. The three leading chip design software players - Synopsys Inc (NASDAQ:SNPS, ETR:SYP), Cadence Design Systems Inc (NASDAQ:CDNS) and Siemens - were all notified by the US Commerce Department that the restrictions introduced in May have been rescinded.
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Software - Application Industry | Technology Sector | Anirudh Devgan CEO | XDUS Exchange | US1273871087 ISIN |
US Country | 12,837 Employees | - Last Dividend | 17 Nov 1997 Last Split | 10 Jun 1987 IPO Date |
Cadence Design Systems, Inc. is a global leader in providing comprehensive software, hardware, services, and reusable integrated circuit (IC) design blocks. This company caters to a wide array of industries including consumer, hyperscale computing, 5G communications, mobile, automotive, aerospace and defense, industrial, and life sciences. Founded in 1987 with its headquarters in San Jose, California, Cadence remains at the forefront of innovation, fulfilling the needs for functional verification, digital IC design and sign-off, custom IC design and simulation, as well as system design and analysis. Moreover, it enriches the design experience with a broad spectrum of intellectual property (IP) products and various supportive services aimed at enhancing methodology, education, and providing hosted design solutions.