Elliott Investment Management builds multibillion-dollar stake in Synopsys

Bloomberg reported that Elliott Investment Management had built a multibillion-dollar stake in Synopsys and planned to push for changes at the chip design software maker, citing people familiar with the matter. The report did not give the stake size or the specific changes Elliott wants. Elliott's managing partner Jesse Cohn said Synopsys is well placed to benefit as AI reshapes chip complexity.

• Stake described as multibillion-dollar; exact size not disclosed
• Elliott plans to push for changes at the company
• Synopsys said it regularly engages with shareholders and values their input
• Led to the May 27 cooperation agreement and a board seat for Jesse Cohn