Cisco CEO Chuck Robbins highlighted the surge in artificial intelligence demand, describing it as fueling a “networking supercycle.”
Shares soared 15%, marking their best day since 2011, after Cisco exceeded its AI infrastructure and hyperscaler guidance for the fiscal year, raising its forecast from $5 billion to $9 billion.
The California-based networking equipment giant also announced plans to cut approximately 5% of its workforce as it shifts strategic focus toward AI-centric segments, silicon, and optics.
Source (CNBC)
