1 Chip Manufacturing Stock Making a Big Bet on AI
A battle is brewing in an under-followed part of the artificial intelligence (AI) industry: chip design software. Several merger and acquisition deals have been announced, and a mega-merger is pending between electronic design automation (EDA) leader Synopsys (NASDAQ: SNPS) and Ansys (NASDAQ: ANSS). Shortly after that was announced, the second EDA software suite, Cadence Design Systems (NASDAQ: CDNS), revealed its new supercomputing platform for simulating electronic systems.
Not wanting to get left behind, Japanese chip manufacturer Renesas (OTC: RNECY) announced its intention to acquire smaller EDA software provider Altium (OTC: ALMF.F). Is something big brewing in the AI market?
Renesas is an integrated device manufacturer, a company that both designs and manufactures semiconductors. It's a hybrid business model that has been making a comeback in recent years. Besides Japan emerging as a top destination for manufacturing in the East, Renesas can thank the electric vehicle (EV) revolution for its resurgence, as well as a myriad of other more mature manufacturing processes (not leading-edge chips for things like data center AI) for chips in industrial and power applications.
Source Fool.com
Renesas Electronics Corp. Stock
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the Renesas Electronics Corp. stock is not clear.
As a result the target price of 19 € shows a slightly positive potential of 19.11% compared to the current price of 15.95 € for Renesas Electronics Corp..
