Cadence Design Systems aims to cash in on new custom-chip era

The logo of Cadence Design Systems is pictured outside the company's offices in San Jose, California, U.S., January 31, 2020. Picture taken January 31, 2020. REUTERS/Stephen Nellis

(Reuters) - Microchip design software maker Cadence Design Systems Inc is betting on growth from automakers and other chip users strapped by global supply shortages who face mounting competition from rivals such as Tesla Inc and Apple Inc that design their own chips.

Cadence and rivals Synopsys Inc and Siemens EDA are at the center of a microchip industry shift as cloud computing providers, software makers and others who traditionally have bought semiconductors from a few big companies now want to draw up their chips own in-house.