POPA ReconThe Hidden Duopoly: Synopsys vs Cadence
The Hidden Duopoly: Synopsys vs Cadence Two companies you've never heard of design every chip on earth. Synopsys and Cadence control 74% of all chip-design software — a ~$160B duopoly. Their moat is absurd: ~100% client retention, ~83–89% gross margins, and switching tools means redesigning a chip from scratch. So no one ever leaves. Before a chip is built, it's drawn — and the world has only two pencils.
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