SAN FRANCISCO (dpa-AFX) - Cisco Systems, Inc. (CSCO), Tuesday announced a $1 billion global investment fund to develop artificial intelligence-powered solutions for networking, security, and observability.
Also, the company said it would make investments in AI companies Cohere, Mistral AI, and Scale AI to enhance customer readiness, compute infrastructure, foundational models, model development, and AI training.
Moreover, Cisco announced Cisco Nexus HyperFabric AI clusters in collaboration with Nvidia (NVDA) to design and deploy AI infrastructure, Cisco Hypershield to protect AMD Pensando DPUs and Intel IPUs, AppDynamics Log Observer Connect to make faster decisions, and a new certification course to build AI-trained workforce.
Currently, Cisco's stock is trading at $46.78, up 0.28 percent on the Nasdaq.
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