CDNS vs LRCX: AI Stock Comparison

Cadence Design Systems, Inc. vs Lam Research Corporation: AI exposure, key metrics, next earnings dates, upcoming catalysts and risks — every number linked to its source.

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Tie: both score 3/5 on AI exposure under our rubric; compare the catalysts and risks below. The score measures how directly each business is tied to AI, not which stock to buy.
⏱ Next catalyst: Not enough tracked catalysts to compare.
$CDNS
Cadence Design Systems, Inc.
Chip-design (EDA) software and IP.
$LRCX
Lam Research Corporation
Etch and deposition tools, heavy in memory.
AI exposure score⚡⚡⚡⚡⚡ 3/5⚡⚡⚡⚡⚡ 3/5
Shares outstanding274.4M
as of 2026-09-30 · 10-Q cover page · SEC filing
1.25B
as of 2026-10-20 · 10-Q cover page · SEC filing
CategoryMemory & semicapMemory & semicap
Key metrics
Revenue (latest quarter) $1.63B
10-Q period ended 2026-09-30; +22% y/y · SEC filing
Operating income $428.7M
Same quarter; 26% operating margin · SEC filing
Net income $289.7M
Same quarter · SEC filing
Revenue (latest quarter) $8.22B
10-Q period ended 2026-09-27; +54% y/y · SEC filing
Gross margin 52.3%
Gross profit / revenue, same quarter · SEC filing
Operating income $3.28B
Same quarter; 40% operating margin · SEC filing
Next earningsNot yet announced / not on our calendarNot yet announced / not on our calendar
Next catalystNot yet announced / not on our calendarNot yet announced / not on our calendar
Upcoming catalystsNone trackedNone tracked
Most recent reported
Oct 26, 2026
Cadence Design Systems, Inc. reports quarterly results · source
EDA demand tracks how many new AI chip designs are in flight. Revenue: $1.63B (+22% y/y), per 10-Q.
Oct 21, 2026
Lam Research Corporation reports quarterly results · source
Wafer-fab equipment demand is an upstream read on AI chip capacity. Revenue: $8.22B (+54% y/y), per 10-Q.
Key risks
  • “We are subject to governmental export and import controls that subject us to liability and impair our ability to compete in global markets as well as a variety of other laws and regulations.” — 10-K risk factor (filed 2026-02-19) · source
  • “We may not be able to generate sufficient cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be…” — 10-K risk factor (filed 2026-02-19) · source
  • “Future Declines in the Semiconductor Industry, and the Overall World Economic Conditions on Which It Is Significantly Dependent, Could Have a Material Adverse Impact on Our Results of…” — 10-K risk factor (filed 2026-08-07) · source
  • “Strategic Alliances and Customer Consolidation May Have Negative Effects on Our Business” — 10-K risk factor (filed 2026-08-07) · source
AI angle

Cadence software is used to design AI accelerators and the systems around them. More custom AI silicon means more design starts, and Cadence is also building AI into its own design tools.

Lam Research's tools are central to 3D NAND, DRAM and advanced packaging. AI-driven memory and foundry spending is the tailwind; China export policy and industry cycles are the counterweights.

Full analysis: $CDNS →Full analysis: $LRCX →

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