Cisco’s $1 Billion AI Fund Targets Startup Investments

Cisco (CSCO.O) has announced a $1 billion fund for investing in artificial intelligence startups. The move comes as major tech firms rush to back small AI companies. Cisco has already placed nearly $200 million into the fund through its investment arm.

Investments in Leading AI Startups
Cisco is investing in AI leaders including Cohere, Mistral AI, and Scale AI. For instance, Scale AI is an AI data startup with a valuation nearly $14 billion. In the meantime, Cohere and Mistral AI are said to be in discussions regarding raising funds valued at $5 billion apiece.

Previously, Cisco has undertaken over 20 AI-focused acquisitions and investments. This further solidifies the embedding of AI across the board. This approach fosters advanced generative AI and machine learning capabilities.