Cisco Systems CompanyLaunching a billion dollar artificial intelligenceInvestment fundsthat aims to support the development of innovative AI technologies. Unlike other companies, Cisco emphasizes that this initiative is not just about investing money, but also about collaborating with companies to co-innovate. Cisco plans to become a provider and platform in the AI space, collaborating with startups to advance AI technology.
Recently, Cisco announced partnerships with startups such as Cohere, Mistral AI and Scale AI to advance generative AI and big language modeling. These startups are valued at billions of dollars as they continue to fundraise. In particular, Mistral AI, which is developing new generative AI models, is about to close a funding round worth $600 million. Additionally, Cohere and Scale AI have also received funding of $450 million and $1 billion, respectively, showcasing their strengths in the security space and in training AI applications.
Cisco considers several factors before making an investment, including whether it meets customer needs, solves complex technical challenges, and is a cultural match for the team. The company emphasizes investments as long-term relationships and actively works with partner companies to provide guidance, support and resources.
The Cisco CEO mentioned at the event that AI is evolving at an unprecedented rate, compared to emerging technologies such as cloud and 5G. He said that AI has entered a new phase, and companies need to adapt quickly to this change. As AI technology continues to evolve, Cisco will continue to work with startups to promote the innovation and application of AI technology.