Cisco Launches $1 Billion Global AI Investment Fund to Drive Innovation in AI

Cisco Investments, the global corporate venture investment arm of Cisco, recently announced the launch of a $1 billion global investment fund to accelerate the growth of artificial intelligence (AI) startups. This initiative, focuses on fostering a secure, scalable AI ecosystem while empowering enterprises with cutting-edge AI solutions. With an initial commitment of $200 million, Cisco’s new AI fund strategically supports notable companies like Cohere, Mistral AI, and Scale AI, who play a significant role in the advancement of AI technologies.

"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," said Mark Patterson, Chief Strategy Officer, Cisco. "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."

In addition to financial investment, Cisco will collaborate with these AI firms to co-develop products, creating flexible AI solutions that meet the diverse needs of global customers.

"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," said Derek Idemoto, SVP, Corporate Development and Cisco Investments. "This fund represents our unwavering commitment to AI and innovation, and to the entrepreneurs and visionaries who are defining the next wave of technology."

Cisco has made over 20 AI-focused acquisitions and investments in the last several years, furthering generative AI and machine learning and integration of AI across its portfolio, the company said in a statement.

About Cisco 
Cisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals.