Cisco Unveils AI Innovations for a Connected and Secure Future
Cisco Investments, Cisco’s global corporate venture investment arm, today announced a $1B AI investment fund to bolster the startup ecosystem and expand the development of reliable and secure AI solutions.
With its new AI fund, Cisco is strategically investing in companies like Cohere, Mistral AI, and Scale AI. These investments are not only aimed at enhancing customers’ AI readiness but also at supporting Cisco’s AI innovation strategy, a testament to our commitment to cutting-edge technology. With a $1 billion investment fund, Cisco has already allocated nearly $200 million to these initiatives, a clear indication of our confidence in their potential.
Chief Strategy Officer Mark Patterson said, “For over 30 years, Cisco Investments has invested and partnered with hundreds of companies to drive innovation within Cisco’s core markets and in new strategic areas.”
Also, “we believe we are well positioned to be the best strategic partner for our recent investments in generative AI companies that align perfectly with this long-standing strategic partner for our customers in the AI era as they look to secure, build, and power AI. In addition to building vital technology to connect secure and advanced AI, Cisco is committed to investing in the broader AI ecosystem to meet our client’s requirements more effectively.”
Also, over the past several years, Cisco has made over 20 AI-focused acquisitions and investments, furthering GenAI and machine learning capabilities and integrating AI across the Cisco portfolio. These strategic investments and partnerships with world-class AI platforms across software and infrastructure develop Cisco’s holistic strategy to connect and protect the AI era.
Moreover, with these investments, Cisco will be working with AI companies on product collaborations that enable Cisco to co-innovate while also being an agnostic provider and platform player in AI, providing coverage and options for Cisco’s global client base.
The committed investment in the new AI includes:
Cohere: Headquartered in Toronto and San Francisco, Cohere provides
The committed investments in the new AI fund include:
Cohere: Headquartered in Toronto and San Francisco, Cohere offers security-focused frontier large language models (LLMS) and industry-leading Retrieval-Augmented Generation (RAG) capabilities tailored to enterprises’ needs.
Mistral AI: Mistral AI is a global company headquartered in Paris specializing in generative artificial intelligence. Also, the company develops new models of generative artifical intelligence for businesses, combining scientific excellence, an open approach and responsible vision of technology.
Scale AI: Based 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 Scale AI’s Series F funding as the round’s most significant strategic investor.
Cisco also has a rich history of delivering innovation through R&D, investments, M&A, and strategic partnerships, utilizing a multi-pronged build, buy, partner, invest, and co-develop strategy. Also, today’s announcements develop the momentum of Cisco’s investments and product innovations in AI while reinforcing that Cisco is well-positioned to help enterprises harness the power of reliable, secure, and trustworthy AI in a global space.
