Cisco Investments (the global corporate venture investment arm of Cisco) launched a $1 billion AI investment fund to support the startup ecosystem and expand the development of secure and reliable AI solutions. As part of the new AI fund, Cisco is making strategic investments in Cohere, Mistral AI, and Scale AI, among others, to advance customers’ AI readiness and complement Cisco’s AI innovation strategy. Cisco already committed nearly $200 million of the $1 billion investment fund to date.
In the past several years, Cisco has made 20+ AI-focused acquisitions and investments, furthering GenAI and Machine Learning capabilities and integration of AI across the Cisco portfolio. And these strategic investments and partnerships with world-class AI platforms across software and infrastructure build on Cisco’s holistic strategy in connecting and protecting the AI era. In addition to these investments, Cisco will also be working with AI companies on product collaborations that enable Cisco to co-innovate, while also being an agnostic provider and platform player in AI, offering options and coverage for Cisco’s global customer base.
KEY QUOTES:
“For more than 30 years, Cisco Investments has invested and partnered with hundreds of companies to drive innovation both within Cisco’s core markets and in new strategic areas. Our recent investments in generative AI companies align perfectly with this long-standing strategy. At Cisco, 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, Cisco
“The establishment of our $1 billion AI investment fund is a testament to our commitment to the transformative power of artificial intelligence and its potential to redefine industries globally. This fund represents our unwavering commitment to AI and innovation, and to the entrepreneurs and visionaries who are defining the next wave of technology.”
- Derek Idemoto, SVP, Corporate Development and Cisco Investments
