Cadence Design Systems ( CDNS Quick Quote CDNS - Free Report) is teaming up with Google to accelerate system and semiconductor design with certified tools included in the Cadence Cloud Passport for use in the Google cloud.
The Cadence Cloud Passport is a component of the larger Cadence Cloud Portfolio, which gives clients easy access to Cadence cloud technologies. The Cadence Cloud Passport and Cadence Cloud Portfolio support the company’s Intelligent System Design strategy that helps customers gain system-on-chip (SoC) design excellence.
This collaboration benefits engineers by providing significant improvement in design and verification throughput, which helps to shorten time to market. It also leverages high-performance computing (HPC) infrastructure and tools to meet customer demand at peak capacity.
The Google silicon teams have utilized flexible consumption models by Cadence to run verification, implementation and system analysis workloads on Google Cloud using cloud-ready tools from Cadence.
The Google silicon teams also used Cadence cloud-ready tools operating on the Google Cloud GCP HPC-optimized infrastructure to develop the Tensor SoC and Tensor Processing Units (TPUs).
The reliability of TPU designs was considerably increased by the usage of the Cadence Jasper Formal Verification platform. Per the company report, Cadence tools have been evaluated and benchmarked on Google Cloud, with performance gains of up to 25% on Google Cloud C2D instances compared to an on-premises architecture.
Cadence continues to invest and collaborate to develop verification and digital design products, which is helping it to launch products that address the ever-growing needs of electronics and semiconductor companies.
In August 2022, Cadence
collaborated with GlobalFoundries ("GF") to accelerate 5G and mobile design innovation. GF will be leveraging Cadence Reference Flow (RF) and mmWave flow for its GF 22FDX platform.
The RF and mmWave design flow allows clients to maximize the performance, power efficiency and reliability of the entire mmWave IC and system-in-package.
Prior to that, Cadence collaborated with Arm and Intel Foundry Services (“IFS”) to tap the growing demand for verification and digital design products.
The collaboration with Arm was aimed at speeding up the mobile device silicon success by combining Cadence digital and verification tools and the Arm Total Compute Solutions 2022.
The partnership with IFS reduced the electronic design automation workload and increased the overall cost and engineering efficiency.
Based in San Jose, CA, Cadence offers products and tools that help customers to design electronic products.
For the third quarter, the Zacks Consensus Estimate for revenues stands at $869.9 million, up 15.8% year on year. Also, the consensus mark for earnings is pegged at 97 cents per share, up 21.3% year on year.
Cadence posted second-quarter non-GAAP
earnings of $1.08 per share, which topped the Zacks Consensus Estimate by 11.3% and increased 26% year over year. Revenues of $857.5 million surpassed the Zacks Consensus Estimate by 2.45% and increased 18% on a year-over-year basis.
CDNS currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 3.6% compared with the
industry’s decline of 30.5% in the past year. Image Source: Zacks Investment Research Stocks to Consider
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