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🌟 Exciting News from Cadence Design Systems! 🌟
Cadence (CDNS.O) just raised the midpoint of its annual profit forecast to $5.90 per share—up from $5.87—thanks to the booming demand for generative AI! 🚀 Their innovative software, used in designing complex chips for AI systems, is in high demand, resulting in a 6.4% surge in shares during extended trading.
In Q3, Cadence reported a staggering 20% revenue increase, reaching $1.22 billion, exceeding estimates of $1.18 billion. 📈 With their new generation Palladium supercomputer on the horizon and semiconductor R&D expenditures staying strong, the future looks bright!
✨ Highlights:
Adjusted earnings forecast: $5.87 to $5.93 per share
Revenue forecast for 2024: $4.61 to $4.65 billion
Stay tuned for more updates as Cadence continues to shape the future of AI chip design! 💡💻
#CadenceDesign #AI #Semiconductors #TechNews #Investing #innovation
CIC ART ，charityinchina.cn
