Cisco signs over $10bn AI infrastructure deals amid competition from Nvidia
Cisco says it has signed AI‑infrastructure contracts worth more than $10bn this fiscal year with hyperscalers and emerging "neocloud" providers. President and chief product officer Jeetu Patel explained that the company’s advantage lies in its vertically integrated stack – it designs its own silicon, photonics, optics and software, positioning itself like "Apple for infrastructure." He noted…
Key points
- Cisco signed AI infrastructure deals exceeding $10bn with hyperscalers and neoclouds this fiscal year.
- Bookings grew 35% and revenue 18% in the last quarter; R&D budget is $8bn for the year.
- Cisco targets 100% AI‑written software products by end of next year, with 70% by year‑end.
Patel highlighted strong financial momentum, with bookings up 35% and revenue up 18% in the last quarter, and an $8bn R&D budget for the year. Cisco aims to have one product fully written by AI now and plans for six more by year‑end, targeting 70% of its software portfolio AI‑generated by next year and 100% in two years. He warned that while the AI surge may feel like a bubble, it also represents a secular shift, and the risk of moving too slowly outweighs the risk of over‑capacity.
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