Cisco raises annual revenue forecast on strong AI networking demand

Cisco raised its annual revenue forecast on Thursday, betting on strong demand for its AI networking equipment and cybersecurity tools.

The company, which has doubled down on its AI efforts by making strategic investments in silicon and ​optics, is benefiting as Big Tech’s massive spending has moved beyond AI processors to the switches and routers required to connect large data-center systems.

“We are in the very early stages of a multi-year networking supercycle,” CEO Chuck Robbins said in a statement.