Investors are currently bullish on Synopsys (SNPS) and Cadence Design Systems (CDNS), viewing them as a non-substitutable duopoly with significant pricing power and a capital-light business model. Sentiment is further bolstered by comparisons to ASML, as well as news that Jensen Huang has taken a stake in SNPS. However, some skepticism remains regarding the valuation of ASML and whether its capacity shifts are fully understood by the market.