AI News Investors Probably Missed

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9. Cisco Systems, Inc. (NASDAQ:CSCO)

Number of Hedge Fund Holders: 61    

Cisco Systems (NASDAQ:CSCO) designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry. Scott Herren, the CFO at Cisco Systems (NASDAQ:CSCO), recently spoke at the Goldman Sachs Communacopia + Technology Conference, tackling questions on AI and future growth, among other things. Herren detailed that enterprises were spending to be AI ready, pointing to four large transactions — also discussed during the earnings call — with each $100 million in sales. Herren noted that if one looks at why they bought the products — such as switches, routers and wifi among other things — it was because the enterprises were refreshing their core infrastructure to be ready for AI.

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