Gold prices steady ahead of Fed decision; weekly weakness noted
Investing.com -- Cadence Design (NASDAQ:CDNS) is expected to pay more than $100 million to the U.S. government to resolve an investigation into its chip design product sales to China, according to Reuters, citing sources familiar with the matter.
The investigation centers on allegations that Cadence illegally sold chip design technology to front companies representing China’s National University of Defense Technology (NUDT), two sources said.
The U.S. Commerce Department has previously restricted shipments to NUDT, noting that the university’s supercomputers are believed to support nuclear explosive simulation and military simulation activities.
Cadence had disclosed earlier this year that it began settlement discussions with the U.S. government regarding sales to China in December.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.