Synopsys, a leading US chip design software company, experienced a significant drop in its stock price following a statement by CEO Sassine Ghazi. The CEO indicated that US export restrictions are hindering the company’s ability to capitalize on the rapidly growing Chinese semiconductor market. Ghazi emphasized a shift in strategic focus, prioritizing internal development efforts and a reduction in resource allocation. The company anticipates refocusing efforts on other key areas and will continue to assess the impact of these restrictions on its global operations.
Credits: News – South China Morning Post