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Fortune

Sheryl Estrada

Cisco’s AI orders forecast just hit $9 billion—and the stock surged

(Credit: Getty Images)

Good morning. It took Cisco nearly 26 years to reclaim its March 2000 peak. It’s taken just five months to leave it in the dust.

Shares of the networking giant in business for over 40 years surged more than 13% Thursday to an intraday record of $119.36, capping one of the most improbable turnaround stories in modern market history. The catalyst: a Q3 earnings report that showed CEO Chuck Robbins’ multi-year bet on AI infrastructure is paying off.

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