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Synopsys, Inc. (NASDAQ:SNPS) is a leader in Electronic Design Automation and the second-largest player in semiconductor Intellectual Property. The expanding end-markets for semiconductors, such as AI, 5G, IoT, and autonomous vehicles, present growth opportunities for Synopsys. Synopsys reported F2Q23 results that beat both top- and bottom-line expectations and slightly raised its full-year outlook, calling for FY23 growth to approach 15%. AI has been a strong driver for the overall business, and the team estimates that its AI-related revenues represent 10-12% of company revenues. Synopsys is leveraging AI capabilities to help drive higher performance/efficiency within its portfolio of products, with strong adoption of these AI tools.
