Why Cisco Stock Inched Higher on Wednesday
Cisco Systems (NASDAQ: CSCO) is gearing up to be part of an international consortium building out artificial intelligence (AI) infrastructure, and investors cheered the news. The veteran networking equipment company's shares rose by over 1% that day, a rate that was sufficient to outperform the S 500 index's 0.4% improvement.
Cisco is to be part of a joint venture with chip company AMD and Saudi Arabia-based AI developer Humain that will deploy AI infrastructure in the Middle Eastern country. The operations of this business should begin in 2026, Cisco wrote in a press release.
Image source: Getty Images.
Source Fool.com
Cisco Systems Inc. Aktie
66,95 €
0,24 %
Uneingeschränkte Unterstützung für Cisco Systems Inc., ausschließlich Buy-Einschätzungen.
Das Kursziel von 70 € für Cisco Systems Inc. impliziert eine leichte Steigerung gegenüber dem aktuellen Kurs von 66.95 €.
