Cadence's downbeat fourth-quarter forecast signals weakness in chip industry

Explore stories from Atlantic Canada.

- Cadence Design Systems forecast fourth-quarter revenue and adjusted profit below Wall Street estimates on Monday, as slower R&D spending by semiconductor firms navigating a tough economy weighs on the chip design software provider.A slower-than-expected chip industry recovery has a cascading impact on firms like Cadence, which makes software tools and hardware that help produce blueprints for chips before they are mass manufactured.

The company's costs have also risen as it has had to invest into integrating generative AI capabilities into its own software tools. The company's costs rose 13.8% in the third quarter ended Sept. 30.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SaltWire Network /  🏆 45. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Russian missile attack kills six in distribution centre in Kharkiv-governorExplore stories from Atlantic Canada.
Read more »

Israel calls Hamas' claim it rejected hostage release 'propaganda'Explore stories from Atlantic Canada.
Read more »

Edmonton Oilers balancing great expectations with not-so-great startExplore stories from Atlantic Canada.
Read more »

Detroit synagogue president murdered, police seek motiveExplore stories from Atlantic Canada.
Read more »

Motor racing-Verstappen takes pole for F1's Austin sprint raceExplore stories from Atlantic Canada.
Read more »

Talks between studios, striking U.S. actors to restart TuesdayExplore stories from Atlantic Canada.
Read more »