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Cisco shares surge to record as AI demand lifts forecast and reshuffles jobs for silicon investment
Business
Published on 14 May 2026
17% jump could be Cisco’s best day since 2002
Cisco shares soared 17% to a record high after the networking giant delivered strong results tied to booming AI demand and raised its annual revenue forecast. The rally could be its biggest one-day gain in over two decades, reminiscent of the May 2002 surge that followed strong earnings after the dotcom crash. Cisco also announced nearly 4,000 job cuts and a $1 billion AI-focused restructuring, shifting spending into silicon, optics, security, and AI enablement.
- Stock jumped 17% to a record-high Thursday
- Biggest single-day gain in over two decades
- Market capitalization was set to swell about $70 billion
- Annual revenue forecast was raised; AI restructuring costs $1 billion
- Nearly 4,000 job cuts, under 5% of the workforce
- Hyperscaler AI infrastructure orders reached $5.3 billion this fiscal year
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times