Cisco Systems raised annual revenue forecast on Wednesday, a sign of improving demand as the computer networking equipment maker shifts focus to cybersecurity, cloud systems and AI-driven products. Companies have ramped up investments in AI technologies which require heavy computing power, creating a spike in demand for data centers, which use Cisco’s products such as ethernet switches and routers. The company now expects annual revenue to be between $55.3 billion and $56.3 billion, compared with its earlier forecast of between $55.0 billion to $56.2 billion.
Cisco raises annual revenue forecast
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