Business Overview

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

BUSINESS OVERVIEW

BUSINESS OVERVIEW

Cadence Design Systems, Inc. (“Cadence”) is an innovation leader in electronic system design that delivers essential computational software, hardware, and IP that its customers use to turn their design concepts into reality. Many of Cadence’s customers design semiconductors and electronic systems. Semiconductor companies focus on the design of all types of semiconductor devices including integrated circuits (“ICs”), analog, mixed-signal, memory, 3D-IC, processor chips for computing (“CPUs”), graphics (“GPUs”), and AI. These customers will then use the semiconductor devices in the design of printed circuit boards (“PCBs”). Cadence’s electronic systems customers design and create products for consumer and business needs, such as smartphones, laptop computers, gaming and entertainment systems, automobiles and autonomous driving systems, aerospace and defense systems, communication systems, networking products, compute servers, cloud data center infrastructure, artificial intelligence (“AI”) systems, medical equipment, and a much longer list of consumer products used in everyday life. These systems companies internally develop, or externally purchase, the sub-components for their products, including ICs and PCBs, which connect all the hardware components, and software at various levels that run on the hardware.