Cisco Gains After CEO Points to Headway in AI and Security – Bloomberg

Cisco Systems Inc., the largest maker of computer networking equipment, rebounded in late trading after the company outlined headway in AI and security technology, helping ease concerns about a sales slowdown.

Cisco, which reported fiscal fourth-quarter results Wednesday, is coming off a spike in demand fueled by the end of pandemic-era supply shortages. Though growth is now decelerating sharply from last year’s surge, Chief Executive Officer Chuck Robbins pointed to a bright future where revenue is more consistent — thanks to subscription-based services — and Cisco capitalizes on the transition to AI-focused data centers.