Synopsys (SNPS) released its fiscal third quarter earnings results, beating expectations on the top and bottom lines with $3.43 adjusted earnings per share (expected $3.28 per share) and revenue of $1.53 billion (expected $1.52 billion). In addition, the chip designer raised its full-year outlook as it expects record full-year revenue to grow by about 15%.

Synopsys CEO and President Sassine Ghazi joins Market Domination to give insight into the company's third quarter and how it may operate moving forward.

Ghazi points to one of the drivers behind their optimism: artificial intelligence.

"If you look at the current environment with a significant inflection point driven by AI that is touching many markets — from data center buildout to the edge to end devices, AI on devices, for many market segments... they are rethinking how to leverage AI and update their product. That's all driving silicon in order to make those products more intelligent, which is great for our business. "

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Nicholas Jacobino