Synopsys' IP business has declined for 3 straight quarters, primarily due to Intel's 18A foundry timing miss, China and catch up in HPC IP titles. SNPS assumes no new design starts from Intel foundry this year. SNPS has been rationalizing its IP business with non-core asset sale and inserting royalty component into deals with hyperscalers.
Source: Sravan Kundojjala
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