Chip design software maker Synopsys has reached an agreement with activist investor Elliott Investment Management that will give one board seat to the activist investor's managing partner Jesse Cohn, the company said on Wednesday. Synopsys, which has a market valuation of about $100 billion and counts Tesla and Google parent Alphabet among its customers, has held discussions with Elliott, one of the industry's most powerful activists, for roughly two months. Elliott pushed the company to improve its margins and Synopsys' stock price has climbed roughly 20% since Elliott's involvement became public.
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Moby summary of GLOBALFOUNDRIES Inc.'s Q1 2026 earnings call
Synopsys will release its second-quarter earnings soon, and analysts anticipate a double-digit profit dip.