The AI Pivot: A Cautionary Tale for Corporate Reckoning Cisco's stock surged 13% last Thursday, reaching an intraday record of $119. 36, after nearly 26 years of struggling to reclaim its peak from 2000.
The networking giant's impressive turnaround is largely attributed to the company's multi year bet on AI infrastructure paying off.
The catalyst for this surge was Cisco's Q3 earnings report, which showed a record revenue of $15. 8 billion, up 12% year over year, and management raising their FY26 AI revenue target to $9 billion from $5 billion.