I remember the stock taking a beating after Kimi K3 created all that buzz about the open model designing chips that could run itself (even though the chip in question seemed small in today's standard of massive AI chips). It was only a matter of time before Synopsys released an offering like this. I can almost see the meeting where the C suite demanded working with an external partner over anything in-house they could build.

Why the overall market cap is smaller than both Synopsys and Ansys combined before the merger still beats me tho.