On September 24, Cadence Design rose 3.02% in regular trading, trading at $318.09/share, with turnover of $169 million. The gain was driven by the company's announcement of further expanding its Chipstack AI Super Agent platform with new agents focused on RTL generation and early PPA optimization.

The newly introduced agents are designed to help chip design teams capture and optimize performance, power, and area metrics at earlier stages, thereby shortening the front-end design cycle and laying a stronger foundation for subsequent complex optimization tasks. This marks another key move in Cadence's AI-driven EDA strategy, following the launch of the Aurastack AI platform for PCB and advanced packaging design, and its collaboration with Japan's Rapidus to promote AI-assisted chip design with a goal of halving design turnaround time.

Fundamentally, Cadence reported strong Q2 results with revenue of $1.584 billion, up 24% year-over-year, and adjusted EPS of $2.11, beating estimates. The company raised its full-year guidance to $8.05-$8.15 adjusted EPS on revenue of $6.26-$6.34 billion. Backlog reached a record $8.1 billion. Multiple analysts maintain Buy ratings, with Goldman Sachs setting a $470 price target.

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