Cisco lifts AI orders forecast to $9B, cuts 4,000 jobs
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Cisco has raised its fiscal 2026 AI infrastructure orders forecast to $9 billion due to increased hyperscaler demand. The company will also cut nearly 4,000 jobs, less than 5% of its workforce, to focus on AI and growth areas. Following these announcements, Cisco's shares reached record highs, increasing its market value by approximately $75 billion.
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