Cisco raises annual forecast on AI-driven demand for networking gear
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Cisco Systems raised full-year forecast for profit and revenue on Wednesday, betting on robust demand for its networking equipment driven by multi-billion-dollar data center expansions amid the artificial intelligence boom. Shares of the company, a supplier to cloud, enterprise and communication services providers, rose more than 7 per cent in extended trading. They have risen 25 per cent so far this year. Companies such as Cisco have been benefiting as businesses rapidly migrate workloads to
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