Cisco Soars on AI Focus and Job Cuts

Cisco Systems experienced a significant stock surge, its largest in over 14 years, following an optimistic sales forecast and a strategic decision to eliminate thousands of jobs. This restructuring aims to sharpen the company's focus on the rapidly expanding artificial intelligence market. Cisco projects fourth-quarter revenue between $16.7 billion and $16.9 billion, surpassing analyst expectations of $15.8 billion. The move indicates Cisco's successful transition into the AI economy, with accelerating orders from data center clients and a plan to enhance its market standing.