Cisco Systems, a telecommunications company, recently unveiled a $1 billion global investment fund to focus on developing AI-powered solutions for networking, security, and observability. This investment will target companies Cohere, Mistral AI, and Scale AI to enhance customer readiness, IT infrastructure, foundational models, model development, and AI training. Cisco’s chief strategy officer, Mark Patterson, highlighted the company’s history of investing in innovative technologies and expressed excitement about the potential of these generative AI companies. The announcement contributed to a slight increase in Cisco’s stock price, which is currently trading at $46.78 on the Nasdaq.
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https://finance.yahoo.com/news/cisco-launches-1-billion-global-052759331.html
Cisco unveils $1 billion investment fund for global AI innovation
