Cisco shares reach record high on AI demand and job cuts
Cisco shares hit a record high as the firm raised its revenue forecast and cut nearly 4,000 jobs to focus on AI. It now expects 9 billion dollars in AI orders.
Cisco Systems Inc shares surged 17% to a record high on Thursday after the networking giant raised its annual forecast and announced nearly 4,000 job cuts, representing less than 5% of its workforce. The jump represents the largest single-day gain for the company since May 2002. The restructuring, expected to cost $1 billion, will redirect investments toward high-growth silicon and optics.
### AI Infrastructure Orders Drive Revenue Outlook Cisco raised its full-year AI infrastructure order expectation to $9 billion, up from a previous estimate of $5 billion. The company has already secured $5.3 billion in orders from hyperscalers during the current fiscal year. This momentum added approximately $70 billion to Cisco's market capitalization, which now nears $400 billion.
