Below, we take a look at the charts of Cadence Design Systems (CDNS), Synopsys (SNPS), and Ansys (ANSS)—three software companies that received a mention Monday afternoon by Nvidia (NVDA) co-founder and CEO Jensen Huang during his keynote address at the artificial intelligence (AI) chipmaker’s highly anticipated GTC conference.

Cadence Design Systems

Shares in chip and computing system design software company Cadence Design Systems gained in after-hours trading following remarks from Huang during his address that the firm is building its supercomputer with Nvidia’s graphics processing units (GPUs). Nvidia ‘s fifth-generation GB200 GPU used in supercomputers increases performance up to 30 times compared to its H100 GPU.

Cadence Design System shares crossed back above the closely-watched 200-day moving average in November 2022 and have continued trending higher since. Looking ahead, it's worth keeping an eye on a 16-month uptrend line, which may act as a key support indicator during pullbacks or periods of profit taking. Cadence stock gained 2.2% to $307.50 in extended trading Monday. Through Monday's close, the stock had gained more the 45% over the past 12 months.

Synopsys

Shares in software automation software maker Synopsys also got a boost after Nvidia announced that the company is integrating its software with its computational lithography platform to accelerate manufacturing of next generation semiconductor chips. “Computational lithography is a cornerstone of chip manufacturing,” Huang said.

The Synopsys share price has remained in a steady uptrend since the 50-day moving average crossed back above the 200-day moving average to form a bullish golden cross signal in early January last year. Investors should monitor a key trendline stretching back to the October 2022 swing low, which may provide near-term support during the stock’s current retracement. Synopsys shares rose 2.5% to $574.74 in extended-hours trading and have gained about 50% over the past year.

Ansys

Engineering software maker Ansys announced Monday evening that it plans to increase its collaboration with Nvidia to develop next-generation simulation solutions powered by accelerated computing and generative AI in areas such as accelerated computing, 6G communication systems, AI-infused simulation solutions, and autonomous vehicles. In addition, Nvidia will use Ansys solutions to optimize its hardware and provide the company with its new Blackwell AI chips.

Since gapping above the July 2023 swing high in late December, the Ansys share price has traded within a narrow range to form a descending triangle, In the short-term, the stock looks well supported by a zone of support between the triangle’s lower trendline and the 200-day moving average. A breakdown below this important technical level could see a retest of the prominent October 2023 swing low. Ansys stock increased 1.6% to $340.50 in after-hours trading Monday and is up about 7% over the last 12 months.

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As of the date this article was written, the author does not own any of the above securities.