Synopsys Stock Rises 9%

(RTTNews) - Synopsys, Inc. (SNPS) is up 9.38 percent, gaining $40.80 to $475.74 on Thursday. The move comes amid investor reaction to the company's strategic partnership with OpenAI to develop GPT-Synopsys, a specialised AI model designed to work with Synopsys' electronic design automation tools for semiconductor design workflows.

Synopsys is currently trading at $475.74, up from the previous close of $434.94 after opening at $467.85 on the Nasdaq. The stock has traded between $462.00 and $493.30 during the session, with trading volume at 3.27 million shares versus average volume of 1.87 million.

Under the multi-year agreement, Synopsys and OpenAI will jointly develop and market GPT-Synopsys, which is intended to use OpenAI models with Synopsys EDA tools to optimise chip designs, including power, performance and area, as well as timing and verification. The agreement includes revenue sharing and a go-to-market collaboration, with early technology engagements already underway with semiconductor customers.

Shares have traded between $362.55 and $539.48 over the past 52 weeks.