Any job is easier when you have the right tool to achieve it. Microprocessors, for example, are far more efficient when designed to match the particular software code they run (whether that code is processing images or running AI simulations)—they offer up to 1,000 times the performance on the same amount of energy.

In September 2023, Cadence created software dubbed ChipGPT—a winking play on ChatGPT—that has enabled auto manufacturers, consumer electronics companies, the pharmaceutical industry, and players in AI infrastructure to create custom silicon.

Befitting its name, ChipGPT is a natural language interface that lets senior-level engineers develop chips with AI assistance weeks to months faster than a team of humans could. Cadence is a key partner to Nvidia, and its clients include several of the largest chip manufacturers in the world: Broadcom, Samsung, Mediatek, and Renesas. The company’s revenue grew 13.5% in the first nine months of 2023, to more than $3 billion.

Explore the full 2024 list of Fast Company’s Most Innovative Companies, 606 organizations that are reshaping industries and culture. We’ve selected the firms making the biggest impact across 58 categories, including advertising, artificial intelligence, design, sustainability, and more.