Synopsys shares rally as activist Elliott builds multibillion-dollar stake in chip design firm
CNBC
Elliott did not disclose the exact value of its investment, but described Synopsys as "essential to the global chip industry."
Shares of Synopsys climbed about 4% Monday as activist investor Elliott Investment Management built a multibillion-dollar stake in the company, CNBC's David Faber confirmed.
"As AI drives a step change in chip complexity and capital investment, Synopsys is uniquely positioned to benefit from this growth," Jesse Cohn, Managing Partner at Elliott, told CNBC.
"We believe there is a clear opportunity for Synopsys's financial performance to more fully reflect the value it delivers," Cohn added, highlighting Elliott's plans to help the company "align operational execution, profitability and monetization with its potential and importance to the semiconductor ecosystem."
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