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. Tesla, Apple, and Alphabet Inc’s Google are among the leaders of in-house design. Executives across industries have taken note of how custom chips help set products apart, said Anirudh Devgan, who became Cadence’s chief executive last month. The company counts Tesla as a client and analysts say Apple is as well. Cadence shares fell 5 percent on Tuesday in a down market. Developing a chip …
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