Exclusive-Cadence nears deal to pay over $100 million to US for China sales, sources say

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0;switch(e){case"expanded_panel":o='{promoMarkup}{notifMarkup}',r=n._store.getNotifications(),a=n._generatePanelMarkup(o,r),i.innerHTML=a;break;case"error_panel":a=(o='{errorMsg}').replace("{errorMsg}",n._config.panel.errorMsg),i.innerHTML=a}t&&t()}else t&&t(new Error("No panel parent"))}},{key:"createPanelParentNode",value:function(e){e&&(e.innerHTML='',this._panelNode=document.getElementById(D))}},{key:"updateBadgeNode",value:function(e){if(e){var t=this._store.getNotifications().newCount,n=this._config.badge.maxCount;if(t){var o=t>n?n+"+":t;e.innerHTML=o}else e.innerHTML=""}}},{key:"addStyles",value:function(e){if(e&&"undefined"!=typeof window){var t=document.getElementById(this._config.panel.styleTagId);t||((t=document.createElement("style")).type="text/css",t.id=this._config.panel.styleTagId,t.innerText=e,document.head.appendChild(t))}}}]),e}(),U=function(){function e(t,n,o){L(this,e);var i=this;i._store=n,i._view=o,i._config=t;var 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n=e.getConfig();"smartphone"===n.device&&("finance"===n.property&&"crunch"===n.ytheme&&e.addElementListener(t.searchInput,"click",(function(){var n,o;n="search_input_focus_click",null!==(o=ae())&&(ne[n]||(ne[n]=o)),e.addElementListener(t.searchForm,"click",(function(){if(t.ybar){if(t.ybar.classList.contains("ybar-searchbox-assist-fullscreen"))return;t.ybar.classList.add("ybar-searchbox-assist-fullscreen"),t.ybar.classList.add("ybar-searchbox-assist-fadein")}if(!document.documentElement.classList.contains("ybar-overlay")){document.documentElement.classList.toggle("ybar-overlay"),document.body.classList.add("ybar-overlay-noscroll");ee("ybar","websrch","",{elm:"expand",subsec:"searchbox",itc:"1"})}}))})),e.addElementListener(t.searchBoxPlaceholder,"click",(function(){Ft(e,t)})),e.addElementListener(t.searchBoxPlaceholder,"keydown",(function(n){var 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t,n=e.getConfig(),o={ybar:document.getElementById("ybar"),searchInput:document.getElementById("ybar-sbq"),buttonBar:document.querySelector(".".concat(jt["sa-btn-bar"])),searchForm:document.getElementById("ybar-sf"),searchBoxIcon:document.querySelector(".".concat(jt["searchbox-icon-uh3"])),searchBoxPlaceholder:document.getElementById("ybar-smartphone-searchbox-placeholder"),searchBoxBackButton:document.getElementById("ybar-search-back-btn"),shopsButtonsWrap:document.querySelector(".".concat(jt["shops-buttons"])),categorySelect:document.getElementById("shops-category-select"),selectedMerchantInput:document.getElementById("selected-merchant-input"),selectedMerchantClearButton:document.querySelector(".".concat(jt["selected-merchant-clear-button"])),submitSearchBtn:document.getElementById("ybar-search"),clearSearchBtn:document.getElementById("ybar-sbq-x"),searchGradientBorder:document.querySelector(".".concat(jt["search-border-gradient"]))};if(function(e,t){var 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familiar with the matter.Cadence is accused of illegally selling chip design technology to front companies representing China's National University of Defense Technology, the sources said.NUDT's supercomputers are thought to support nuclear explosive simulation and military simulation activities, according to U.S. Commerce Department notices restricting shipments to the university.San Jose, California-based Cadence, which said earlier this year it began settlement discussions with the U.S. over sales to China in December, did not immediately respond to a request for comment, nor did NUDT.The Justice Department declined immediate comment. The Commerce Department did not immediately respond to a request for comment.The potential deal, which comes as the U.S. and China meet for new trade talks, shows the U.S. is still willing to enforce U.S. export controls on China, even as it relaxes some of the restrictions as part of negotiations. The sources said the deal is not finalized.NUDT was put on the Commerce Department's restricted trade list in 2015 to keep it from using U.S. technology to power its supercomputers, according to department postings. Other aliases and locations were added to the university's listing in 2019 and 2022, including Hunan Guofang Keji University, Central South CAD Center, and CSCC.The U.S. investigation into Cadence, which began more than four years ago, involves “historical sales by Cadence to customers in China,” according to a company filing. Cadence received a subpoena from the U.S. Commerce Department in February 2021, demanding records related to certain customers in China. A related November 2023 subpoena followed from the Justice Department over the company's business activity in China.Cadence sold its EDA technology to NUDT through the CSCC or Central South CAD Center alias about 50 times between 2015 and 2020, according to one source familiar with the probe. Chip developer Tianjin Phytium Information Technology, which traces its roots to NUDT, also has been tied to Cadence sales for the university, another source said. Phytium was added to the restricted trade list in 2021. It did not immediately respond to a request for comment.Several employees at a Chinese subsidiary of Cadence were terminated over the sales, one of the sources said.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,389.77 +1.13 (+0.02%)Dow 3044,837.56 -64.36 (-0.14%)Nasdaq21,178.58 +70.27 (+0.33%)Russell 20002,256.73 -4.34 (-0.19%)VIX15.03 +0.10 (+0.67%)Gold3,316.90 -18.70 (-0.56%)PortfolioSign in to access your portfolioSign inTop gainersSCLX Scilex Holding Company 15.52 +3.56 (+29.77%)STEM Stem, Inc. 18.91 +3.92 (+26.15%)NEGG Newegg Commerce, Inc. 39.08 +4.77 (+13.90%)LYEL Lyell Immunopharma, Inc. 13.73 +1.31 (+10.55%)SMCI Super Micro Computer, Inc. 60.05 +5.58 (+10.24%)Top losersCHPT ChargePoint Holdings, Inc. 9.91 -2.30 (-18.85%)ALB Albemarle Corporation 74.77 -8.97 (-10.71%)MCRB Seres Therapeutics, Inc. 13.24 -1.29 (-8.88%)KB KB Financial Group Inc. 78.40 -7.51 (-8.74%)RVTY Revvity, Inc. 95.04 -8.63 (-8.32%)Most activeNVDA NVIDIA Corporation 176.75 +3.25 (+1.87%)TSLA Tesla, Inc. 325.59 +9.53 (+3.02%)WBD Warner Bros. 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