Cadence Design Systems Stock Falls 9% After Rapidus AI Chip Design Collaboration Announcement

India, July 17 -- Cadence Design Systems, Inc. (CDNS) shares dropped $34.73, or 9.53 percent, to $329.92 on Friday, after the company announced a collaboration with Rapidus Corporation to advance agentic AI for advanced-node system-on-chip (SoC) design.

Cadence's stock opened at $334.56 and traded between $320.07 and $342.24 during the session. The stock has ranged from $262.75 to $416.69 over the past 52 weeks. Trading volume reached 2.47 million shares, compared with an average daily volume of 2.40 million shares.

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1568189509843-0'); });

The partnership integrates Cadence's InnoStack AI Super Agent into Rapidus' AI-Agentic Design Solution (Raads) to automate and optimize SoC ...