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Benzinga
Benzinga
Business
Adam Eckert

Cadence Design Systems, Synopsys Shares Rise As US Lifts Chip Design Restrictions On China

Synopsys Cadence Design Cadence China United States Cadence Design Systems Inc CDNS Synopsys Inc Siemens
CDNSClose,Up,Of,Cadence,Sign,On,The,Office,Building,In

Shares of chip design firms Cadence Design Systems Inc (NASDAQ:CDNS) and Synopsys Inc (NASDAQ:SNPS) are rising Thursday after the U.S. Department of Commerce rescinded China export restrictions.

What Happened: Cadence Design and Synopsys announced in separate statements that the Bureau of Industry and Security of the Commerce Department informed the companies that export restrictions related to China that were put in place in May have been rescinded, effective immediately.

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