The U.S. government has lifted export restrictions on chip-design software to China, according to announcements from three major industry firms. Siemens, Synopsys, and Cadence stated that they had been notified by the U.S. Department of Commerce that export controls on chip-design software had been lifted, CNBC reported. Siemens restored full access and resumed sales to Chinese clients, while Synopsys and Cadence said they were working to do the same. The three companies dominate the global electronic design automation market, a crucial component in chip manufacturing. Shares of Synopsys and Cadence surged over 6% and 7% in overnight trading on Robinhood. Chinese customers accounted for about 10% of Synopsys’ $1.6 billion in quarterly revenue.
