Synopsys Slides After Upping AI Outlook
Synopsys shares fell about 9% on Thursday. The company upped its annual outlook, but traders shrugged off the AI sales story, citing softer chip-IP demand, costs tied to recent deals, and ongoing worries over catching up to Cadence Design Systems’ margins. Synopsys shares were last at $476.40, down $49.52 from Wednesday’s finish. Cadence eased 0.3%. The VanEck Semiconductor ETF added 0.9%.