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Cadence's (CDNS) AI-Driven Solutions Used by Imagination
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Cadence Design Systems (CDNS - Free Report) announced that its Cadence Cerebrus Intelligent Chip Explorer, powered by AI and the complete RTL-to-GDS digital full flow, is being leveraged by Imagination Technologies to expedite the release of its latest 5nm GPUs with low power consumption.
Cadence further added that its Cerebrus generative AI on the OnCloud platform has helped Imagination reduce leakage power and overall power as well as enhance area and performance.
The adoption of AI-driven Cadence Cerebrus in a Software as a Service model granted Imagination's design team several advantages, including increased productivity, cost-effectiveness with a pay-as-you-go approach, and access to pre-trained AI models for efficient project launches. The Cadence Cerebrus Intelligent Chip Explorer and the broader digital full flow have been designed to support the Cadence Intelligent System Design strategy and can enable system improvement.
Per a report from Allied Market Research, the global generative AI market was valued at $10.5 billion in 2022 and is projected to reach $191.8 billion by 2032 at a CAGR of 34.1% from 2023 to 2032. This will likely boost demand for the company’s AI-driven solutions.
Cadence offers products and tools that help customers to design electronic products. The company continues to invest heavily in verification and digital design products, helping it launch products that address the ever-growing needs of electronics and semiconductor companies.
In September, the company unveiled its new AI technology and software tools to meet the growing demand for on-device and edge AI processing. The new Cadence Neo Neural Processing Units are highly scalable and offer a wide range of AI performance while being energy-efficient.
Prior to that, the company rolled out the next-generation AI-powered OrCAD X platform, which is also enabled with Cadence OnCloud Platform. The platform boasts augmented electrical constraints and performance improvements. It is deeply integrated with the Cadence system design and analysis portfolio, leading to reduced time to market.
CDNS currently carries a Zacks Rank #2 (Buy). In the past year, the stock has gained 62.4% compared with the Zacks sub-industry’s growth of 41.5%.
The Zacks Consensus Estimate for Asure Software’s 2023 earnings per share (EPS) has increased 5.9% in the past 60 days to 54 cents.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 676.4%. Shares of ASUR have surged 73.2% in the past year.
The Zacks Consensus Estimate for Synopsys’ 2023 EPS has gained 2.5% in the past 60 days to $11.09. SNPS’ long-term earnings growth rate is 16.4%. Shares of SNPS have surged 76.3% in the past year.
The Zacks Consensus Estimate for Watts Water’s 2023 EPS has increased 1% in the past 60 days to $7.78. The company’s long-term earnings growth rate is 7.5%.
Watts Water’s earnings beat estimates in all the trailing four quarters, delivering an average surprise of 12.5%. Shares of WTS have rallied 41% in the past year.
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Cadence's (CDNS) AI-Driven Solutions Used by Imagination
Cadence Design Systems (CDNS - Free Report) announced that its Cadence Cerebrus Intelligent Chip Explorer, powered by AI and the complete RTL-to-GDS digital full flow, is being leveraged by Imagination Technologies to expedite the release of its latest 5nm GPUs with low power consumption.
Cadence further added that its Cerebrus generative AI on the OnCloud platform has helped Imagination reduce leakage power and overall power as well as enhance area and performance.
The adoption of AI-driven Cadence Cerebrus in a Software as a Service model granted Imagination's design team several advantages, including increased productivity, cost-effectiveness with a pay-as-you-go approach, and access to pre-trained AI models for efficient project launches. The Cadence Cerebrus Intelligent Chip Explorer and the broader digital full flow have been designed to support the Cadence Intelligent System Design strategy and can enable system improvement.
Blackbaud, Inc. Price and Consensus
Blackbaud, Inc. price-consensus-chart | Blackbaud, Inc. Quote
Per a report from Allied Market Research, the global generative AI market was valued at $10.5 billion in 2022 and is projected to reach $191.8 billion by 2032 at a CAGR of 34.1% from 2023 to 2032. This will likely boost demand for the company’s AI-driven solutions.
Cadence offers products and tools that help customers to design electronic products. The company continues to invest heavily in verification and digital design products, helping it launch products that address the ever-growing needs of electronics and semiconductor companies.
In September, the company unveiled its new AI technology and software tools to meet the growing demand for on-device and edge AI processing. The new Cadence Neo Neural Processing Units are highly scalable and offer a wide range of AI performance while being energy-efficient.
Prior to that, the company rolled out the next-generation AI-powered OrCAD X platform, which is also enabled with Cadence OnCloud Platform. The platform boasts augmented electrical constraints and performance improvements. It is deeply integrated with the Cadence system design and analysis portfolio, leading to reduced time to market.
CDNS currently carries a Zacks Rank #2 (Buy). In the past year, the stock has gained 62.4% compared with the Zacks sub-industry’s growth of 41.5%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks in the broader technology space are Asure Software (ASUR - Free Report) , Synopsys (SNPS - Free Report) and Watts Water Technologies (WTS - Free Report) . Asure Software and Synopsys currently sport a Zacks Rank #1 (Strong Buy), whereas Watts Water Technologies carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Asure Software’s 2023 earnings per share (EPS) has increased 5.9% in the past 60 days to 54 cents.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 676.4%. Shares of ASUR have surged 73.2% in the past year.
The Zacks Consensus Estimate for Synopsys’ 2023 EPS has gained 2.5% in the past 60 days to $11.09. SNPS’ long-term earnings growth rate is 16.4%. Shares of SNPS have surged 76.3% in the past year.
The Zacks Consensus Estimate for Watts Water’s 2023 EPS has increased 1% in the past 60 days to $7.78. The company’s long-term earnings growth rate is 7.5%.
Watts Water’s earnings beat estimates in all the trailing four quarters, delivering an average surprise of 12.5%. Shares of WTS have rallied 41% in the past year.