Cadence Design Systems (NASDAQ: CDNS) may not be the first name you think of in the tech sector, but the semiconductor and computing systems design company is notching fast and steady growth from solid secular trends, especially generative AI.

Cadence -- along with its peer -- are two of just a very small handful of companies in the electronic design automation (EDA) software space. Think of it like Autodesk's AutoCAD, but for chips, computers, and other electronic components.

As such, Cadence is a top stock that investors should consider for exposure to the long-term growth of the chips and AI systems industries. Let's dive in.

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Source Fool.com