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Cisco Lifts AI Forecast to $9 Billion from $5 Billion

GateNews

AI Industry News

2026-05-15 01:11:42

According to CNBC, Cisco raised its fiscal-year forecast for AI infrastructure and hyperscaler orders to $9 billion from $5 billion. The networking equipment maker also announced a 5% workforce reduction as demand for AI tools and data center equipment rises, with resources being shifted toward AI-focused segments, silicon, and optics. Cisco shares rose 14% following the announcement, marking their best trading day in more than two decades.

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