WASHINGTON (dpa-AFX) - Chip design software company Synopsys, Inc. (SNPS), announced on Wednesday that it has signed a multi-year strategic agreement with e-commerce and cloud provider Amazon to accelerate custom chip development and expand its silicon IP business.
Synopsys said the deal, valued at more than $1 billion, makes Amazon its lead customer for application-optimized IP and shifts the business toward a license-plus-royalty model. The agreement also extends to AI-powered engineering software and cloud services.
Amazon, which has invested in custom silicon for more than a decade, said Synopsys' IP and AI tools will help speed design cycles for chips including Graviton and Trainium. Synopsys said it will adopt Amazon EC2 and Bedrock to accelerate its own product development.
On the Nasdaq, shares of Synopsys are currently gaining 2.13 percent, changing hands at $423.92.
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