On October 1, Cadence Design rose 3.99% in regular trading, trading at $347.58 USD/share, with turnover of $40.07 million. The rally came alongside broad-based strength in the EDA sector.

On the news front, rival Synopsys announced a multi-year agreement with Amazon valued at over $1 billion to expand collaboration on custom chip design. Synopsys shares surged 9.07% on the day. The deal underscores hyperscalers' accelerating demand for custom silicon and the EDA tools underpinning those designs. Cadence, as Synopsys's chief EDA competitor, stands to benefit from the same structural trend, with analysts noting both companies serve overlapping hyperscaler customers. Cadence itself reported record Q2 backlog of $8.1 billion, raised full-year guidance to $6.26B-$6.34B in revenue and $8.05-$8.15 in adjusted EPS, and recently expanded its Chipstack AI Super Agent with new RTL generation capabilities. Multiple brokerages maintain buy-equivalent ratings, with price targets ranging up to $425.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)