Cadence raises fiscal 2026 revenue outlook to $6.23B on AI
Business
Cadence Design Systems just raised its fiscal 2026 revenue outlook to as much as $6.23 billion, thanks to a surge in demand for specialized AI processors.
Big players like Google and Amazon are driving this trend, and the news gave Cadence's stock a nice bump after hours.
Cadence trims profit forecast
Tech giants need more advanced chips, so they're turning to Cadence's design tools, used by names like NVIDIA and Apple.
While revenue is looking up, Cadence trimmed its profit forecast a bit after buying Hexagon AB's design and engineering business for about €2.7 billion.
The company also teamed up with NVIDIA on some cool robotics tech and kicked off the year strong with better-than-expected earnings.