Elliott Said to Take Multibillion-Dollar Stake in Synopsys (1)

Activist investor Elliott Investment Management has made a multibillion-dollar investment in Synopsys Inc. and plans to push for changes at the chip-design software maker, according to people familiar with the matter who asked not to be identified because it was private.

Elliott Managing Partner Jesse Cohn said in an emailed statement that Synopsys is essential to the global chip industry. He added that as artificial intelligence drives changes in chip complexity and capital investment, Synopsys is uniquely positioned to benefit.

“Given the essential nature of its platform and these structural tailwinds, we believe there is a clear opportunity for Synopsys’ ...