Cisco Stock Surges as AI Orders Boom and Nearly 4,000 Jobs Face Cuts
Cisco Systems jumped ahead of Thursday’s open, climbing as much as 22% in premarket action after the networking giant lifted its sales outlook and announced a new AI-focused restructuring. The company now sees fiscal Q4 revenue landing between $16.7 billion and $16.9 billion, topping the $15.8 billion analysts had penciled in, according to Bloomberg.