Synopsys climbs as AI spending spree powers forecast hike

Synopsys

27/08/2026 17:47

** Shares of Synopsys SNPS.O rise 10.8% to $454.34 after chip design software maker raises annual revenue and profit forecasts
** Stock hits highest in nearly two months, on course for biggest one-day percentage gain since September last year if current levels hold
** "AI is driving unprecedented complexity and increasing demand for the silicon IP and engineering solutions," CEO Sassine Ghazi said 
** SNPS supplies software that companies use to design and develop chips
** Results offer another glimpse of how the AI spending boom is benefiting companies across the semiconductor supply chain
** SNPS expects fiscal 2026 revenue in the range of $9.69 billion to $9.74 billion, compared with its prior forecast of between $9.63 billion and $9.71 billion
** Projects annual adjusted earnings of $15.04 to $15.10 per share, up from earlier expectation of $14.72 to $14.80 per share
** Stock lost 12.7% YTD as of last close

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))