{"id":50051,"date":"2024-06-10T17:27:29","date_gmt":"2024-06-10T14:27:29","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=50051"},"modified":"2026-03-28T05:59:45","modified_gmt":"2026-03-28T02:59:45","slug":"cisco-launches-1b-global-ai-investment-fund","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/cisco-launches-1b-global-ai-investment-fund\/","title":{"rendered":"Cisco Launches $1B Global AI Investment Fund"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li>Cisco is launching a $1B global investment fund to expand and develop secure, reliable and trustworthy AI solutions.<\/li>\n\n\n\n<li>Cisco is making strategic investments with world-class start-ups across software and infrastructure that build upon Cisco\u2019s strategy to connect and protect the AI era.<\/li>\n\n\n\n<li>Cohere, Mistral AI and Scale AI among the initial GenAI startups joining the Cisco Investments portfolio to help build a broader AI ecosystem.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Cisco Live, LAS VEGAS, June 10, 2024:&nbsp;<\/strong>Cisco Investments, the global corporate venture investment arm of Cisco (NASDAQ: CSCO), has launched a $1B AI investment fund to bolster the startup ecosystem and expand the development of secure and reliable AI solutions. As part of the new AI fund, Cisco is making strategic investments in Cohere, Mistral AI and Scale AI among others to advance customers\u2019 AI readiness and complement Cisco\u2019s AI innovation strategy. Cisco has already committed nearly $200M of the $1B investment fund to date.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AI is reshaping every industry and the world at an unprecedented pace, putting greater emphasis on how businesses globally interact and rely on technology.&nbsp;Recent research from&nbsp;<a href=\"https:\/\/www.idc.com\/getdoc.jsp?containerId=US51539723\">IDC (2023)<\/a>&nbsp;indicates that the global AI market is expected to double in size to over $500 billion in the next three years. Enterprises, including Cisco, have an opportunity to leverage Gen AI to significantly enhance their products and services and better serve their customers and end users.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/06\/Mark-Patterson-Chief-Strategy-Officer-Cisco.-_ssict_1200_800.webp\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/06\/Mark-Patterson-Chief-Strategy-Officer-Cisco.-_ssict_1200_800-1024x683.webp\" alt=\"Mark Patterson, Chief Strategy Officer, Cisco. _ssict_1200_800\" class=\"wp-image-50052\" srcset=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/06\/Mark-Patterson-Chief-Strategy-Officer-Cisco.-_ssict_1200_800-1024x683.webp 1024w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/06\/Mark-Patterson-Chief-Strategy-Officer-Cisco.-_ssict_1200_800-300x200.webp 300w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/06\/Mark-Patterson-Chief-Strategy-Officer-Cisco.-_ssict_1200_800-768x512.webp 768w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/06\/Mark-Patterson-Chief-Strategy-Officer-Cisco.-_ssict_1200_800-1080x720.webp 1080w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/06\/Mark-Patterson-Chief-Strategy-Officer-Cisco.-_ssict_1200_800.webp 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;For more than 30 years, Cisco Investments has invested and partnered with hundreds of companies to drive innovation both within Cisco&#8217;s core markets and in new strategic areas. Our recent investments in generative AI companies align perfectly with this long-standing strategy,&#8221; said Mark Patterson, Chief Strategy Officer, Cisco. &#8220;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&#8217; needs.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Over the past several years, Cisco has made over 20 AI-focused acquisitions and investments, furthering GenAI and Machine Learning capabilities and integration of AI across the Cisco portfolio. These strategic investments and partnerships with world-class AI platforms across software and infrastructure build upon Cisco\u2019s holistic strategy to connect and protect the AI era. In addition to these investments, Cisco will also be working with AI companies on product collaborations that allow Cisco to co-innovate, while also being an agnostic provider and platform player in AI, offering options and coverage for Cisco\u2019s global customer base.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The committed investments in the new AI fund include:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Cohere:<\/strong>\u00a0Headquartered in Toronto and San Francisco, Cohere provides security-focused frontier large language models (LLMs) and industry-leading Retrieval-Augmented Generation (RAG) capabilities tailored to meet the needs of enterprises.<\/li>\n\n\n\n<li><strong>Mistral AI:<\/strong>\u00a0Mistral AI is a global company headquartered in Paris specializing in generative artificial intelligence. The company develops new models of generative artificial intelligence for businesses, combining scientific excellence, an open approach and a responsible vision of technology.<\/li>\n\n\n\n<li><strong>Scale AI:<\/strong>\u00a0Based in the U.S., Scale AI provides a data-centric, end-to-end platform providing training and validation for AI applications. Cisco recently participated in\u00a0<a href=\"https:\/\/scale.com\/blog\/scale-ai-series-f\">Scale AI\u2019s Series F funding<\/a>\u00a0as the round\u2019s largest strategic investor.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe 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,\u201d said Derek Idemoto, SVP, Corporate Development and Cisco Investments. \u201cThis fund represents our unwavering commitment to AI and innovation, and to the entrepreneurs and visionaries who are defining the next wave of technology.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cisco has a rich history of delivering innovation through R&amp;D, Investments, M&amp;A, and strategic partnerships\u2014using a multi-pronged build, buy, partner, invest and co-develop strategy. Today\u2019s announcement builds on the momentum of Cisco\u2019s investments and product innovations in AI, while reinforcing that Cisco is well-positioned to help enterprises harness the power of secure, reliable and trustworthy AI on a global scale.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cisco Live, LAS VEGAS, June 10, 2024:&nbsp;Cisco Investments, the global corporate venture investment arm of Cisco (NASDAQ: CSCO), has launched a $1B AI investment fund to bolster the startup ecosystem and expand the development of secure and reliable AI solutions. As part of the new AI fund, Cisco is making strategic investments in Cohere, Mistral [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":50053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":449,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[449,24],"tags":[],"class_list":["post-50051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ai","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - 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