Cisco launches $1 billion AI investment fund

Cisco Investments, the corporate venture investment arm of Cisco, has launched a USD 1 billion global AI investment fund to drive the development of secure and reliable AI solutions.

Cisco has already allocated nearly USD 200 million from the fund, in Cohere, Mistral AI, and Scale AI.

"We believe we are well positioned to be the best strategic partner for our customers in the AI era as they look to build, secure, and power AI.

"In addition to building essential technology to connect, secure and advance AI, Cisco is committed to investing in the broader AI ecosystem to more effectively meet our customers' needs," Mark Patterson, Chief Strategy Officer at Cisco, said.

Cisco said it will collaborate with AI companies to co-innovate and offer a range of AI solutions, positioning itself as an agnostic provider and platform player to serve its global customer base with diverse.