Cisco Stock Surges 17% to New All-Time High on $9B AI Orders Forecast

Cisco Systems (CSCO) stock surged more than 17% to a new all-time high around $119 in early trading, extending gains after reporting stronger-than-expected third-quarter results. The rally reflects robust demand for AI infrastructure products and renewed investor confidence in the company's strategy shift.

The company's AI business delivered the key catalyst: Cisco raised its full-year AI order forecast to $9 billion, an 80% increase from prior guidance, with $5.3 billion already booked this fiscal year. Fourth-quarter revenue is expected to grow approximately 14.5%, nearly double Wall Street estimates. In parallel, Cisco announced plans to cut fewer than 4,000 jobs (under 5% of workforce) to reallocate resources toward higher-growth AI and cloud infrastructure areas, with restructuring costs estimated at $1 billion.