Snps stock price continues to outperform Nasdaq tech

SNPS stock price continues to outperform Nasdaq tech peers, driven by demand for AI chip design automation tools. Analysts set next resistance at $612, above which fresh highs could follow. Central to this demand are companies known as hyperscalers, which provide the cloud computing power, data centers, storage capacity, and other infrastructure tools needed for AI applications. In a new industry report , Morningstar analysts project the annual collective investment in AI by hyperscalers—Microsoft MSFT , Alphabet GOOG / GOOGL , Amazon AMZN , Meta Platforms META and Oracle ORCL —to triple to $450 billion by 2027 from $150 billion in 2023. Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. SNPS stock price performance indicates investor confidence in the company's innovation roadmap, notably in advanced node process design, which keeps it ahead in competitive benchmarks.