Cadence Design CEO Retains Stake Worth Billions Despite Cashing Out Hundreds of Billions

Cadence Design Systems, Inc. (Nasdaq: CDNS) disclosed that on May 22 and June 1–2, President and CEO Anirudh Devgan and Senior Vice President Jinchi Teng exercised stock options and sold a portion of their holdings. CEO Devgan disposed of tens of thousands of shares in two separate transactions, generating roughly $49 million in proceeds—equivalent to about KRW 68 billion—while still retaining over 200,000 shares valued at approximately $100 million (around KRW 160 billion). Senior Vice President Teng also sold shares worth several million dollars (tens of billions of Korean won) but continues to hold a stake valued at several hundred billion won under current disclosures.

Earlier this month, Cadence expanded its multi-year collaboration with Intel Foundry to optimize the 14A process node and accelerated its AI-focused business expansion by strengthening agentic AI-powered semiconductor design and physical-simulation solutions through partnerships with NVIDIA and collaboration with Google Cloud. In its April release of first-quarter fiscal 2026 results, driven by AI-related demand, the company reported revenue and earnings that exceeded market expectations. The acquisition of Hexagon’s design and engineering business prompted Cadence to raise its full-year fiscal 2026 revenue outlook by several hundred million dollars, or several hundred billion Korean won.

Headquartered in San Jose, California, Cadence is a leading provider in the electronic design automation (EDA) sector, offering semiconductor chip and package design software, system-level design tools, and IP to global fabless and systems companies. An alumnus of the Indian Institute of Technology, CEO Devgan has led the company since 2021 with AI-driven intelligent system design as a core strategy. In 2026, he joined the board of directors at Lam Research, further extending his influence across the semiconductor and AI ecosystems.