Cisco Systems (CSCO) reported record third-quarter revenue of $15.8 billion.
The company raised its fiscal 2026 AI infrastructure order forecast to $9 billion, up from the previous $5 billion estimate. Cisco shares surged over 14% to a record high following the announcement.
Large cloud providers drove the upgrade by placing $1.9 billion in AI-related orders during the quarter. This demand confirms a massive capital investment cycle for AI-ready networking gear.
The news improved sentiment across the information technology sector, specifically for semiconductor and AI infrastructure companies.