Demand for semiconductors is 'unprecedented': Synopsys COO

Demand for semiconductors is 'unprecedented': Synopsys COO
Synopsys (SNPS) reported third quarter adjusted earnings that were better than analysts were expecting. Revenue of $1.48 billion was in-line with Wall Street estimates. The company also announced that Synopsys President and COO Sassine Ghazi will become CEO on January 1, 2024. Ghazi joined Yahoo Finance Live anchors Julie Hyman and Brad Smith to discuss the company's results and how AI will be impacting its business. As Ghazi explains, "anybody who designs and develops a chip, they use Synopsys software to architect and actually design and verify the chip." Ghazi says there are two factors driving chip demand. The first is that "everything is smart," as in smart homes and smart cars. Second is AI. "With AI, in order to make it happen, you need more sophisticated chips in the cloud or in the data center, as well as more sophisticated chips on the edge," Ghazi said. Due to those two trends, Ghazi says, "the demand for semiconductors is unprecedented."

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