Cisco on Tuesday launched a $1 billion fund to invest in artificial intelligence startups, joining a list of big technology companies rushing to take stakes in small AI firms. The company, through its investment arm, is investing in Cohere, Mistral AI and Scale AI, among others, and has already committed nearly $200 million of the fund, it said. AI data startup Scale AI is valued at nearly $14 billion, while so-called foundation model developers Cohere and Mistral are both reportedly in talks with investors to raise funds at a valuation of $5 billion each.
CISCO LIVE US 2024 -- Cisco (NASDAQ: CSCO), the leader in enterprise networking and security, today announced new capabilities across the Cisco Security Cloud that extend its security architecture in the age of AI. With Cisco's unified, AI-driven, cross-domain security platform, customers will experience the balance of power tipping in favor of the defenders.
CISCO LIVE -- Cisco (NASDAQ: CSCO) kicks off Cisco LIVE 2024 with new AI-powered innovations and investments that deliver a clear message: AI isn't just the latest turning point in technology. It's an efficient, intelligent source of digital resilience that can connect and protect entire organizations and power growth, scale, and an inclusive future for all.